Ribon Therapeutics Announces $25 Million Equity Investment from Pfizer
Ribon Therapeutics, a clinical-stage biotechnology company developing therapeutics to target stress support pathways, today announced a $25 million investment from Pfizer. Ribon plans to use the proceeds to support clinical development of its potentially first-in-class oral small molecule programs in oncology (RBN-2397, a PARP7 inhibitor) and immunology (RBN-3143, a PARP14 inhibitor). As part of the investment, Robert Rickert, Ph.D., Senior Vice President and Head of Cancer Immunology Discovery, Pfizer, will join Ribon’s Scientific Advisory Board.
Separately, Ribon and Pfizer have entered into an agreement to leverage Pfizer’s global development expertise and capabilities to support the advancement of Ribon’s pipeline. Ribon will retain economic rights and control of clinical development across all its programs.
“We thank Pfizer for its investment in Ribon and support of our novel approach to developing potential first-in-class treatments targeting stress support pathways, and we welcome Dr. Rickert to our Scientific Advisory Board,” said Prakash Raman, Ph.D., President and Chief Executive Officer, Ribon Therapeutics. “Pfizer’s capital support and expertise will be instrumental as we work to advance our lead programs—RBN-2397 in cancer and RBN-3143 in immunology—to key clinical milestones and enable further drug discovery and development from our proprietary BEACON+ platform.”
“We believe Ribon’s pioneering work to develop therapeutics that target stress support pathways represents a potential breakthrough for patients living with cancer and inflammatory diseases,” said Dr. Rickert. “I look forward to working with the Ribon team to help advance their important clinical programs.”
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