CAMBRIDGE, Mass.--(BUSINESS WIRE)--Relay Therapeutics, a biotech company dedicated to developing breakthrough medicines by leveraging insights from protein motion, today announced the successful completion of a $63 million Series B financing.
Proceeds from the financing will be used to advance Relay Therapeutics’ pipeline of oncology candidate medicines as they progress toward clinical trials. The investment will also support deeper integration of a platform that leverages both best-in-class experimental and computational technologies to discover and develop a pipeline of novel, protein motion-based therapies.
The Series B financing was led by BVF Partners, with participation from new investors GV (formerly Google Ventures), Casdin Capital, EcoR1 Capital and Section 32. Existing investors Third Rock Ventures and Alexandria Venture Investments also participated. Kanishka Pothula, Managing Director at BVF Partners, will join the Board of Directors of Relay Therapeutics.
“Relay Therapeutics’ platform, focused on understanding protein motion, represents a paradigm shift in drug discovery,” said Pothula. “The Company’s pipeline has already delivered impressive early results and we’re excited to be a part of Relay’s future.”
“Relay Therapeutics is at the nexus of applying experimentation and computation to drug discovery and development,” said Krishna Yeshwant, General Partner at GV. “The core thesis of modeling protein movement is a compelling addition to rational drug design approaches, and we look forward to working with Relay’s experienced team as they continue to build out the platform.”
“We are pleased to have the confidence of these seasoned biotechnology investors in our integrated protein motion-based platform,” said Sanjiv Patel, MD, President and Chief Executive Officer of Relay Therapeutics. “Together with our dedicated team, we will continue to advance our pipeline towards delivering transformative targeted therapies to patients.”
About Relay Therapeutics
Relay Therapeutics is committed to discovering and developing medicines that will make a transformative difference for patients by building the first dedicated drug discovery pipeline centered on protein motion. Bringing together the latest scientific advances in structural biology, biophysics, computation, chemistry and biology, Relay’s drug discovery engine illuminates the full mobility of a protein and the ways in which protein motion regulates function. By applying this approach and by focusing on disease-causing targets, Relay aims to develop breakthrough medicines for patients in need. The company’s initial programs are focused on developing therapeutics in oncology. Headquartered in Cambridge, Massachusetts, Relay Therapeutics is a private company launched in 2016 with financing from Third Rock Ventures and an affiliate of D. E. Shaw Research.