Avenzo Therapeutics, a clinical-stage biotechnology company developing next-generation oncology therapies, announced the closing of a $60 million Series B financing. This funding, which follows Avenzo's $386 million Series A/A-1 financing announced in November 2024, brings the total capital raised to $446 million. The proceeds will be used to support the advancement of Avenzo's pipeline of potential best-in-class oncology drug candidates.

The Series B financing was led by OrbiMed and SR One, with participation from new investor Longwood Fund. All existing investors, including Foresite Capital, Lilly Asia Ventures, Surveyor Capital (a Citadel company), New Enterprise Associates (NEA), Deep Track Capital, Sofinnova Investments, Sands Capital, INCE Capital, TF Capital, Delos Capital, and Quan Capital, participated in this financing.