SAN DIEGO, July 24, 2017 /PRNewswire/ -- eFFECTOR Therapeutics, Inc., a leader in the development of selective translation regulators for the treatment of cancer, today announced that the company has raised $38.6M in Series C financing. Pfizer Venture Investments (PVI) led the round and was joined by additional new investors including Alexandria Venture Investments. All existing investors participated in the round including U.S. Venture Partners, Abingworth, Novartis Venture Fund, SR One, The Column Group, Altitude Life Science Ventures, Sectoral Asset Management, Abbvie Biotech Ventures, BioMed Ventures, and Astellas Ventures. In conjunction with the financing, eFFECTOR has appointed Elaine V. Jones, Ph.D., vice president, PVI, to its board of directors.
The funds will be deployed to advance a broad Phase 2 development program for eFT508, eFFECTOR's investigational small molecule MNK1/2 inhibitor, including a combination study in colorectal cancer with avelumab* (BAVENCIO), conducted under a clinical collaboration agreement between eFFECTOR, Pfizer and Merck KGaA. Additional studies to be conducted with the current financing include monotherapy studies designed to demonstrate immunological proof of mechanism in certain solid tumors and objective response in diffuse large B cell lymphoma, and a second checkpoint inhibitor combination study in solid tumors. The Series C proceeds will also enable the company to advance eFT226, an inhibitor of the eukaryotic initiation factor 4A (eIF4A), into the clinic in 2018. eFT226 blocks translation of key oncogenes including MYC, BCL2, cyclin D1 and CDKs 4/6. eFFECTOR also intends to continue advancing its discovery pipeline, including a program targeting eukaryotic initiation factor 4E (eIF4E), which is expected to enter preclinical development in 2018. eFFECTOR retains global rights to its entire pipeline, including eFT508, as well as its selective translation regulator platform technology.