# Ankyra Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ankyra-therapeutics

- Industry: Biotechnology
- Headquarters: Boston, US
- Website: www.ankyratx.com
- Total disclosed funding: $60M
- Latest round: Series B (Aug 26, 2021)
- Investors on record: 7

## About

Ankyra Therapeutics, Inc. is a biotechnology company focused on developing anchored-drug conjugates to enhance anti-tumor responses while ensuring patient safety, which addresses significant unmet needs in cancer treatment.Ankyra Therapeutics, Inc., founded in 2019 and headquartered in Boston, US, specializes in anchored-drug conjugates. The company was formed by founders Darrell Irvine and Karl Wittrup. Ankyra has raised a total of USD 45.00 mn across multiple funding rounds, with its latest round being a SERIES B funding in August 2021, which included investments from Borealis Ventures, Fidelity Investments, GV, Mithril Capital Management, Polaris Partners, Sands Capital Ventures, and Spring Mountain Capital. The company valuation post-funding stands at USD 150.98 mn.Ankyra Therapeutics is primarily focused on the development of anchored-drug conjugates, specifically utilizing their innovative Anchored Immunotherapy platform to create therapeutics aimed at enhancing anti-tumor responses while ensuring patient safety. Their flagship product, the IL-12 anchored-drug conjugate, has demonstrated therapeutic activity in preclinical models and is currently under evaluation for treating patients with advanced solid tumors. These anchored-drug conjugates improve retention within tumors, prolong immune activation, and reduce systemic side effects, targeting oncologists and healthcare providers in North America and Europe.Ankyra Therapeutics operates within a collaboration-driven revenue model, engaging in partnerships with healthcare providers and research institutions focused on oncology. Revenue generation occurs through agreements that may include milestone payments upon successful development stages and potential royalties on future sales of their products, with the IL-12 anchored-drug conjugate playing a crucial role in this model.In August 2021, Ankyra Therapeutics, Inc. raised USD 45.00 mn in SERIES B funding to progress molecule ANK-101 through Investigational New Drug (IND) enabling studies and into Phase 1 clinical trials, along with advancing additional cytokine programs. The company aims to expand its therapeutic offerings and market presence, with specific plans to target additional regions within North America and Europe.

## Funding rounds

- Series B, Aug 26, 2021, $45M — Polaris Partners, Borealis Ventures, Spring Mountain Capital, Fidelity Investments, GV, Mithril, Sands Capital Alternatives
- Series A, May 4, 2020, $15M — Polaris Partners

## Investors

- Polaris Partners (https://capitalatlas.ai/funds/polaris-partners) — Series A, Series B
- Borealis Ventures (https://capitalatlas.ai/funds/borealis-ventures) — Series B
- Spring Mountain Capital (https://capitalatlas.ai/funds/spring-mountain-capital) — Series B
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series B
- GV (https://capitalatlas.ai/funds/gv) — Series B
- Mithril (https://capitalatlas.ai/funds/mithril) — Series B
- Sands Capital Alternatives (https://capitalatlas.ai/funds/sands-capital-alternatives) — Series B