FACIT portfolio company completes Series A financing round with support from global partners
September 11, 2024 – FACIT seeded start-up, Radiant Biotherapeutics (“Radiant”), announced the closing of Series A financing to advance the company’s proprietary multi-specific therapeutics for patients with complex cancers. Radiant’s unique multi-valent antibody platform, called Multabody™, generates best-in-class antibodies with superior potency against multiple target sites implicated in heterogenous diseases such as cancers and can potentially improve patient outcome.
FACIT participated in the Series A financing round through its Compass Rose Oncology Fund, which follows an initial investment supporting the founding of Radiant based on core intellectual property initially developed at the Hospital for Sick Children and the University of Toronto. Capitalizing on the region’s excellence in research to advance cancer care for patients is part of FACIT’s Ontario First commercialization strategy and continuum of support to advance the most promising intellectual property. Helping to capitalize homegrown start-ups also generates further economic value by ensuring innovations maintain a leading competitive edge while they plant company roots locally and create high skilled jobs.
Radiant’s rise in the short time since its founding includes advancement of its Multabody™ platform through pre-clinical studies, emerging from stealth mode recently and securing partnerships with multiple global pharmaceutical companies. Congratulations to the Radiant team on its remarkable growth and successes in reaching this important milestone.
To read the company’s news release, please click here.
To learn more about Radiant Biotherapeutics and related news, please click here.
About FACIT
FACIT is an award-winning commercialization venture firm that builds companies with entrepreneurs to accelerate oncology innovation, with a portfolio that has attracted more than $1.6 billion in investment to Ontario. Blending industry experience, capital and the unsurpassed clinician-scientist network of its strategic partner the Ontario Institute for Cancer Research (OICR), FACIT capitalizes on the province’s investment in research and healthcare to the benefit of the local economy and patients worldwide. Cancer Breakthroughs. Realized. facit.ca
PORTFOLIO
FACIT actively manages our diverse portfolio of Ontario oncology assets (including therapeutics, imaging, diagnostics, and technology platforms) that span all stages of commercialization, from proof-of-concept to clinical development.
FUNDS
With critical seed funding, FACIT makes it possible for Ontario’s best cancer research discoveries to compete globally and reach patients.