..."Little startup Ankyra Therapeutics has grabbed a relatively small $45 million B round as it plots getting its leading oncology hopeful into the clinic," reports Fierce Biotech.

"That drug, ANK-101, is currently preclinical, but the cash boost should help it through human testing in cancer. Details are still very thin on the ground, with the company not giving specific cancer targets, saying its approach 'is a true platform that can extend drug bioavailabity and enhance anti-tumor immune responses, while avoiding systemic adverse events.'

"It adds that it has a 'highly differentiated technology' that can boost the window of immune-modulating oncology drugs, namely by forming an extended drug depot following intratumoral administration.

"The company is chaired and founded by biotech veteran and current Adagio lead Tillman Gerngross, Ph.D. As part of the funding announcement, Ankyra said it has hired a new chief medical officer in Howard Kaufman, M.D., who had recent stints at Amgen, Compass Therapeutics and Replimune."