A pharma company has just raised $10.5 billion in a round led by Google’s parent company, Alphabet, and the venture capital firm Kleiner Perkins Caufield & Byers, the two companies announced.
Xeriscape, an oncology product that uses nanotechnology to make cells more tolerant to chemotherapy, was developed by a team at Harvard Medical School and the Harvard Comprehensive Cancer Center.
The funding comes on top of $9.5 million in seed funding from the private equity firm DST Venture Partners.
The company said it expects to raise $25 million in a series B round from investors including Microsoft Ventures, Andreessen Horowitz and Kleiner.
“Xerisfap is one of a number of promising oncologists using nanotechnology that is creating new treatments for a variety of diseases,” Kleiner cofounder and CEO Bill Greene said in a statement.
“It is the most exciting biotech we have ever invested in, and we are confident that the platform will continue to grow with a strong focus on the most promising technologies for cancer and other disease.”
The company is developing a series of therapies using its Nanofap platform.
These treatments are designed to work alongside other drugs that treat the same type of cancer.
The company said the drugs are being developed by scientists from the Harvard School of Medicine, the Wyss Institute for Biologically Inspired Engineering and Nanomedicine at MIT, and its Wyss lab.
The companies said the investment will help the companies expand the technology and develop more clinical applications.
Xeriiscap’s technology uses nanofap, which can be used to create nanosheets of nanocrystals and polymers that can form a scaffold around the cancerous cell.
The nanoparticles are injected into cancerous cells and then deliver an array of drugs that target the cells, called an anti-tumor therapy.
The drugs, which are still in early stages of clinical trials, are effective against many types of cancer, including advanced lung cancer, melanoma, breast cancer, ovarian cancer, prostate cancer and liver cancer.
The Nanofaps are currently being used in a trial to treat people with advanced breast cancer.
“We are excited about the future of this technology,” Kleinaire said in the statement.
“We believe the development of these new therapies will lead to breakthroughs that will benefit millions of people around the world.
The future of Xerisfape and its products is bright.”
The technology has been used to treat multiple cancers in people with melanoma and advanced lung, lung and prostate cancers, as well as in people who have been treated with drugs to treat advanced melanoma.
In addition to being used to help treat the most common types of cancers, the Nanofabs can be made into drugs that are approved for use in other types of drugs, such as cancer immunotherapy and chemotherapy.
The technology was developed in collaboration with the Broad Institute of MIT and Harvard, the National Institutes of Health, the Broad Institutes and the Wyse Cancer Center in Boston, Massachusetts.
Xergis Pharmaceuticals is a subsidiary of Pfizer.
It had a market capitalization of $26 billion as of the end of September.