Elucida Oncology, a biotechnology company pioneering the next frontier in targeted cancer therapy, announced today it has closed a $44 million Series A-1 financing.

In addition to general corporate development purposes, proceeds from the financing will be used to complete IND enabling studies for the company's lead CDC program, expand the management team and laboratory capabilities, and generate additional pre-clinical efficacy data in several tumor models.

Elucida Oncology previously raised $28 million in a Series A round in 2018, bringing the total investment in the company to $72 million.

Elucida Oncology is a biotechnology company pioneering the next frontier in targeted cancer therapy with its first-in-class, ultra-small C'Dot drug delivery platform. The company's C'Dot-Drug-Conjugates, or CDCs, are novel therapeutics formulated to substantially increase the concentration of highly potent drugs in difficult to treat tumors with minimal systemic exposure due to their unique Target or Clear™ properties. CDCs are designed to enable precise tumor targeting and deep tumor penetration resulting in enhanced efficacy with reduced off-target toxicity, thereby addressing the limitations of antibody-drug-conjugates and more traditional drug carriers. For more information on Elucida Oncology, Inc., please visit www.elucidaoncology.com.