Skip to main content

Bright Peak secures investment of 107 million dollars

scientist making research in biotech startup
| News

Bright Peak secures investment of 107 million dollars

15.06.2021

Bright Peak has raised a total of 107 million US dollars as part of a financing round. The biotechnology firm manufactures proteins that do not exist in the natural world using a process of chemical synthesis. One of the proteins is now regarded as a highly promising candidate for cancer immunotherapy.

scientist making research in biotech startup

Bright Peak Therapeutics, a biotechnology firm based in Basel and San Diego, California, has raised a total of 107 million US dollars following a successful Series B financing round, which was led by RA Capital. Among others, the seed investors Versant Ventures, a healthcare investment fund based in Silicon Valley, participated in the financing round. In fact, Versant Ventures had already invested 35 million dollars in Bright Peaks back in July of last year.

The internal research and development team at Bright Peak is based in Basel. The researchers, headed up by Jeffrey Bode, Professor of Synthetic Organic Chemistry at the Swiss Federal Institute of Technology in Zurich (ETH), and Vijaya Pattabiraman, Senior Vice-President and Chief Technology Officer, are intent on ushering in a new era of protein engineering, details of which can be found in a background report published by ETH. The team uses a process invented by Bode to synthesize peptides (KAHA ligation) with the aim of forming natural proteins, or more precisely cytokines, from scratch, so that they are more suitable as therapeutic agents. The overarching aim here is to develop new drugs.

“The investment from this accomplished crossover syndicate underscores the enthusiasm for our platform and re-affirms our commitment to transform the therapeutic utility of cytokines to treat people with cancer and autoimmune diseases”, comments Fredrik Wiklund, President and CEO of Bright Peak, in the company press release.

This platform, built over many years at ETH, allows proteins to be modified “as many times as we need to: once, five times or even a hundred times”, Bode explains. After having spent 20 years researching in this area, the first modified cytokine is now in mass production. More than 300 chemical steps were required to reach this stage. “Never before has such a sophisticated molecule been mass produced”, says Pattabiraman. Clinical trials are planned for this new molecule over the next year or two.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Roche investing an additional 1.2 billion Swiss francs in Basel

Roche will be putting an additional 1.2 billion Swiss francs towards the renovation of its site in Basel. This investment...
Read More

Nouscom secures 67.5 million euros in financing

Biotech company Nouscom has raised 67.5 million euros in a series C financing round. The Basel-based firm intends to use...
Read More

Celebrating six months of innovation: i4Challenge accelerator New Ideas 2022/2023

On the 5th of July 2023, the 3rd iteration of the i4Challenge accelerator program New Ideas came to its conclusion....
Read More

How open innovation in healthtech hubs is fueling the rise of digital healthcare

How the ever-increasing uptake of digital solutions is enhancing patient engagement, increasing access to care and lowering the cost of...
Read More

How to access the U.S. market with your medical device

In one of our latest Venture Mentoring events by Basel Are Business & Innovation, we invited Nila-Pia Rähle to speak...
Read More

Paradigm shift in pain management

Pain is a crucial sensation for survival, but it can also drive us to depression and long-term suffering if not...
Read More

Do you have a question? We'd like to hear from you.