Arresto Biosciences, maker of a drug that targets both cancer and fibrotic diseases, just landed an undisclosed third round of funding to push its lead compound closer to clinical trials. The Palo Alto, Calif. company is taking a new approach to the destruction of tumors. Instead of killing their cells directly, its drug would eliminate elements of the host environment that tumors need to metastasize and survive. This could prove helpful at extremely early or late stages of the disease in question, Arresto told VentureWire.
The recent round of investment was led by Northgate Capital and included DAG Ventures, HealthCare Ventures and Kleiner Perkins Caufield & Byers. Company representatives say the amount provided should last for about two years.