Nuvalent Raises $135 Million as Startup Targets Treatment-Resistant Cancer Cells

By Thomas Price Tuesday, May 11, 2021

With medical treatments advancing at incredible speeds, one of the largest hurdles still being faced is cancer. However, many different technology and medical startup companies have been actively working to find better ways to fight this illness. Nuvalent is a medical startup that has developed a new way for addressing treatment-resistant cancer cells that otherwise can remain active. The company recently closed a Series B funding round to help further expand current research and support clinical advancement of the leading programs at Nuvalent.

CaMKII protein kinase.

Nuvalent’s New Cancer Treatment Efforts

Medical startup Nuvalent has become a revolutionary company within the targeted therapy world as the business continues to advance what is called a kinase inhibitor. Basic current treatments that use kinase inhibitors can often lead to the emergence of new cancer cells that mutate, creating resistance to the kinase inhibitor over time. However, Nuvalent has developed a treatment with a unique molecular structure that can still target kinases in the original cancer cell as well as the new, mutated cells.

The startup also ensures that the treatment heavily favors and prioritizes cancerous cells that can multiply while leaving healthier cells alone. This further reduces the adverse effects that so often are experienced from treatments developed by a different company.

While the company is still relatively young, these new treatments have made major waves within the medical industry. In fact, the startup has already presented its preclinical data on its two flagship treatments, NVL-520 and NVL-655, to the American Association for Cancer Research during its virtual annual meeting. The available data suggests that both treatments from the company can remain active in tumors that have developed mutations.

These preclinical data findings have brought a lot of enthusiasm from several different investors who see significant business potential in Nuvalent’s new treatments.

Nuvalent Funding Round and Future Plans

In the Series B funding round for the business, Nuvalent raised $135 million in capital. The funding round was led by Bain Capital Life Sciences. Other investors participated in the round, including Deerfield Management Fidelity Management and Research Company, Wellington Management Company, Viking Global Investors, Janus Henderson Investors, Avoro Capital Advisors, Boxer Capital of Tavistock Group, Venrock Healthcare Capital Partners, Fairmount Funds Management, Driehaus Capital Management, and Logos Capital.

The startup will also be taking on the managing director at Bain Capital Life Sciences, Andrew Hack MD, Ph.D. The new funding will allow for Nuvalent to push forward with clinical advancement for its two kinase inhibitor treatments. The funding will also help the business to grow through investments in the discovery research pipeline for new treatments.

When commenting on the latest funding round for the business, Nuvalent CEO Alex Balcom said, “We are encouraged by the support of this exceptional group of investors and their shared belief in our mission to develop precisely targeted therapies for patients with cancer...With this financing, we are well positioned to efficiently advance our parallel lead programs into clinical development and to accelerate the discovery of additional novel, selective compounds to meet medical needs in treatment-resistant cancers.”

About the Author

Headshot of Thomas Price

Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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