<![CDATA[PMV Pharma - News]]>Fri, 26 May 2017 06:04:24 -0800Weebly<![CDATA[PMV Pharma Secures $74 Million in Series B Financing for Cancer Drugs Targeting p53]]>Wed, 22 Feb 2017 12:27:12 GMThttp://pmvpharma.com/1/post/2017/02/pmv-pharma-secures-74-million-in-series-b-financing-for-cancer-drugs-targeting-p53.html Topspin Biotech Fund leads Series B financing supported by founding investor, InterWest Partners and Series A lead investor, OrbiMed Advisors.

Cranbury, New Jersey – February 22, 2017 – PMV Pharmaceuticals, Inc., a leader in the discovery and development of p53-targeted small molecule drugs for the treatment of cancer, today announced the completion of a $74 million Series B financing round.  This financing was led by Topspin Biotech Fund and a group of investors with Euclidean Capital, with participation from existing investors InterWest Partners, OrbiMed Advisors, and Osage University Partners.

The proceeds will be used to develop and advance into the clinic the Company’s pipeline of mutant p53 restoration drug candidates. 

p53 is the most commonly mutated protein in human cancers, with more than half of all tumors containing mutant p53.  The protein plays a pivotal role in the body’s natural defense mechanism against cancer and induces a highly-organized program of cellular death to prevent the proliferation of potentially cancerous cells.

Cancer cells often have mutations in p53 that enable them to escape death.  PMV Pharma’s unique mechanism of action promises to restore p53 to its normal function, eliminating this escape route and selectively killing the mutant cancer cells without affecting normal tissues.

“PMV Pharmaceutical’s world-class founders, scientific advisors, and leadership team, together with its transformative chemistry and biology platform position PMV Pharma to be a leader in next-generation cancer therapies to improve patients’ lives,” said Steve Winick of Topspin.  In conjunction with the Series B financing, Mr. Winick will be joining PMV’s Board of Directors.

“This financing provides PMV Pharma with the resources to broadly expand our pipeline and to bring p53 therapies to the clinic,” said David Mack, Ph.D., President and CEO of PMV Pharmaceuticals.  “We are excited to have Topspin join us in our pursuit of developing meaningful new medicines for large segments of the cancer population. The enthusiasm and confidence from our new and existing investors underscore the important advances we have made.”

About PMV Pharma

PMV Pharma was co-founded by Dr. Arnold Levine, one of the discoverers of the p53 protein and a professor emeritus at the Simons Center for Systems Biology at the Institute for Advanced Study. p53 is the most commonly mutated gene in cancer, with over 50 percent of all human tumors containing a p53 mutant protein.  PMV Pharma is developing first-in-class p53 and p53 pathway modulators for the treatment of cancer.  Bringing together leaders in the field to utilize over three decades of p53 biology, PMV Pharma combines unique biological understanding with pharmaceutical development focus.  PMV Pharma is headquartered in Cranbury, New Jersey.


Contact:

David H. Mack, Ph.D.
President & CEO
PMV Pharmaceuticals, Inc.
dmack@pmvpharma.com

Amiad Finkelthal
Russo Partners
amiad.finkelthal@russopartnersllc.com
(646) 942-5626
(917) 217-1838 mobile

Shai Biran, Ph.D.
Russo Partners
shai.biran@russopartnersllc.com
(212) 845-4253 
(917) 915-2416 mobile

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<![CDATA[PMV Pharma Announces $30 million raised in Series A Financing]]>Wed, 03 Dec 2014 07:03:48 GMThttp://pmvpharma.com/1/post/2014/12/pmv-pharma-announces-30-million-raised-in-series-a-financing.htmlOrbiMed leads Series A financing supported by founding investor, InterWest Partners

DOYLESTOWN, PA – December 2, 2014 – PMV Pharmaceuticals, Inc., a leader in the discovery and development of p53 targeted small molecule drugs for the treatment of cancer, announced today the completion of a $30 million Series A financing.  This financing is being led by OrbiMed, with participation by Osage University Partners, and supported by founding investor, InterWest Partners.

Founded by p53 thought leader Arnold Levine and world-renowned virologist Thomas Shenk, PMV Pharma possesses unique insights into p53 biology and the discovery of selective modulators of p53 and its pathways.  p53’s importance in human biology is profound:  it is the most commonly mutated protein in human cancers with more than half of all tumors containing mutant p53.  The proceeds of this financing will support the advancement of the Company’s rapidly emerging pipeline of p53 focused therapeutics.

 “We are pleased to have OrbiMed, a leader in healthcare investing, lead this financing that will help progress our novel first-in-class programs towards delivering fundamentally new medicines to cancer patients”, commented David Mack, Ph.D., President and CEO of PMV Pharmaceuticals.  “The enthusiasm and confidence from our new and existing investors underscore the strengths of our approach to drug discovery and development based upon our p53 platform and insights.”

“PMV Pharma is leading what is truly one of the last greenfield opportunities in oncology - drugging the 'guardian of the genome'.  PMV Pharma’s approach, could yield breakthrough therapies to treat large segments of the cancer patient population” said Peter Thompson, M.D., Orbimed Private Equity Partner.  In conjunction with the Series A financing, Dr. Thompson will be joining PMV’s Board of Directors.

Dr. Arnold Oronsky, InterWest Partners founding investor added “We are pleased to have such quality investors join us in backing PMV Pharma and our pursuit of revolutionary cancer drugs. This financing is an important step toward reaching the potential of the next generation of cancer therapeutics”.

About PMV Pharma

PMV Pharma is developing first-in-class p53 and p53 pathway modulators for the treatment of cancer.  Bringing together leaders in the field to utilize over three decades of p53 biology, PMV Pharma combines unique biological understanding with pharmaceutical development focus.  PMV Pharma has corporate operations in Redwood City, California and Research and Development in Doylestown, Pennsylvania. 

About OrbiMed

OrbiMed is a leading investment firm dedicated exclusively to the healthcare sector, with approximately $12 billion in assets under management. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies. OrbiMed's team of more than 80 employees manages a series of private equity funds, public equity funds, royalty/debt funds and other investment vehicles. OrbiMed maintains its headquarters in New York City, with additional offices in San Francisco, Shanghai, Mumbai and Herzliya.

About InterWest

For more than 30 years, InterWest has partnered with exceptional entrepreneurs to build winning technology and Healthcare companies. With more than 200 years of combined operating and investing experience, the firm’s investing team has raised $2.8B, completed more than 78 IPOs, and participated in nearly 75 upside acquisitions. As the firm invests InterWest X, a $650M fund, the InterWest team continues to believe that providing capital is just the beginning of a long-term collaboration with entrepreneurs to turn their vision into a thriving company. 

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<![CDATA[PMV Pharma and Chiromics Announce Licensing Agreement and Drug Discovery Collaboration — Accelerates Discovery and Development of Novel Cancer and Infectious Disease Therapeutics]]>Tue, 25 Feb 2014 23:02:10 GMThttp://pmvpharma.com/1/post/2014/02/pmv-pharma-and-chiromics-announce-licensing-agreement-and-drug-discovery-collaboration-accelerates-discovery-and-development-of-novel-cancer-and-infectious-disease-therapeutics.htmlDOYLESTOWN, PA and PRINCETON, NJ – February 25 , 2014 – PMV Pharmaceuticals, Inc., and Chiromics LLC today announced that they have entered into a collaboration whereby PMV Pharma has a non-exclusive license for use of Chiromics’ chemical compound library and a screening collaboration to discover and optimize novel small molecules against multiple PMV oncology and infectious disease therapeutic targets.
PMV Pharma is pioneering the discovery and development of p53 targeted small molecule drugs for the treatment of cancer and infectious disease.  p53’s importance in human biology is profound:  it is the most commonly mutated protein in human cancers with more than half of all tumors containing mutant p53.  It is also a key cellular defense against viral infection and is known to suppress the replication of numerous viruses. 

Founded by p53 thought leader Arnold Levine, Ph.D., and world-renowned virologist Thomas Shenk, Ph.D., PMV Pharma possesses unique insights into p53 biology and the discovery of selective modulators of p53 and its pathway.  

Chiromics’ compound collections are assembled using Chiromics core chemical technology referred to as “cascade catalysis.”  This technology was invented in the MacMillan laboratories at Princeton University.  Cascade catalysis allows for the creation of “accessible complexity” ‑ a diverse collection of molecules that is more complex than, and differentiated from, currently existing small molecule collections, while retaining drug-like properties, the ability to develop structure-activity relationships and ease of re-synthesis.  As a result, whereas only about 15% of proteins have been successfully targeted by existing small molecules, Chiromics’ library compounds may reach these and the approximate remaining 85% of targets, many previously thought to be inaccessible.

“We are excited to use Chiromics' proprietary technology and libraries together with our novel p53 platform and insights. The result of this powerful combination will be the rapid discovery of a portfolio of important new potential oncology and infectious disease therapeutics,” David Mack, Ph.D., President and CEO of PMV Pharmaceuticals said.

Chiromics’ founder David MacMillan, Ph.D., who serves as the James S. McDonnell Distinguished University Professor of Chemistry, as Director, Merck Center for Catalysis at Princeton and as Chairman of the Department of Chemistry at Princeton University, stated, “PMV Pharma has assembled a first class team with proven expertise in understanding the biology of p53. Our chemistry platform together with PMV's deep knowledge of the p53 network has the potential to achieve unprecedented results."

About PMV Pharma

PMV Pharma is developing first-in-class p53 and p53 pathway modulators for the treatment of cancer and infectious disease.  Bringing together leaders in the field to utilize over three decades of p53 biology, PMV Pharma combines unique biological understanding with pharmaceutical development focus.  PMV Pharma received initial funding from premier venture capital firm InterWest Partners and has corporate operations in Redwood City, California and Research and Development in Doylestown, Pennsylvania. 

For additional information about the Company, please visit: PMVpharma.com

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Contact:
David Mack, Ph.D.
President & CEO
PMV Pharma
650-241-2822
dmack@pmvpharma.com

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