On May 25, 2021 Phanes Therapeutics, Inc. (Phanes), an emerging leader in innovative drug discovery in immuno-oncology, reported the completion of $40 million Series B financing (Press release, Phanes Therapeutics, MAY 25, 2021, View Source [SID1234580579]). The round of financing was led by Sequoia Capital China with participation from new investors and current shareholders. The proceeds from this round will be used to advance several preclinical programs to clinic, expand the research and clinical teams, and support the advancement of research projects in the PACbody and ATACCbody platforms.

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"This round of financing will accelerate our robust growth. We are excited about the opportunity of making a major impact in the immuno-oncology field," said Ming Wang, PhD/MBA, CEO of Phanes Therapeutics, "At Phanes, our mission is to become a major source of innovation in the biopharma industry, and we are fully committed to delivering innovative therapies to patients."