On September 26, 2024, San Diego-based 858 Therapeutics, a biotechnology and drug discovery company developing a portfolio of small molecule therapeutics directed against novel oncology and immunology targets, announced the completion of a $50 million Series B financing led by Avidity Partners with participation from Insight Partners, Mirae Asset Capital, and Alexandria Venture Investments, as well as existing investors Versant Ventures, NEA, and Logos Capital. Wilson Sonsini Goodrich & Rosati advised 858 Therapeutics on intellectual property matters related to the transaction.

The additional funding will be used to advance 858 Therapeutics' small molecule therapeutics pipeline, which includes its lead asset, ETX-19477—a potent inhibitor of DNA repair protein PARG that is currently being tested in patients with advanced solid tumors.

The Wilson Sonsini team that advised 858 Therapeutics on IP matters related to the transaction includes Ingo Hardt, Michael Hostetler, and David Clark.

For more information, please see 858 Therapeutics' news release.