Dallas Biopharma Hauls in $150 Million to Advance Its Novel Kidney Cancer Drug

A Dallas biopharmaceutical company is attracting $150 million in its fifth funding round for continued trials of its novel kidney cancer treatment.Peloton Therapeutics Inc. announced Wednesday that it completed its Series E funding round, drawing seven new investors. The money will be used to "advance Peloton's research and development pipeline," including Phase 3 trials for its experimental kidney cancer pill, said John Josey, Peloton's chief executive officer."We are delighted to have received such avid support from this eminent group of health care investors," Josey said. The new financing was led by RA Capital Management and brought in new investors Eventide Asset Management, Biotechnology Value Fund, OrbiMed, EcoR1 Capital, Vida Ventures, Curative Ventures and Driehaus Capital Management LLC.Peloton had raised $135.2 million in earlier funding rounds that began in 2011. Exiting investors, including The Column Group, Nextech Invest Ltd., Topspin Fund LP, Tichenor Ventures LLC and Foresite Capital Management, also participated in the new funding round.  Continue reading...