Press Release: May 26, 2020
Jubilant Life Sciences Ltd (“Jubilant”) has granted an exclusive license to Lengo Therapeutics for the worldwide development and commercialization of a portfolio of novel chemistry against undisclosed oncology targets. In connection with the license, Lengo has completed a $15 million Series A financing round from Frazier.
Frazier Healthcare Partners recently launched a new biopharmaceutical company Lengo Therapeutics (“Lengo”) to discover and develop precision oncology medicines.
Tracy Saxton, the CEO of Lengo, said “Company formation is one of our core activities at Frazier, and Jubilant has been a key part of several of our early-stage companies. We were fortunate to identify novel chemical matter discovered at Jubilant to address some of these mutations of interest.”
Jubilant and Frazier have been working together on multiple discovery-stage companies since 2016, starting with Mavupharma which was acquired by AbbVie in 2019.
“We are pleased to be strengthening our ties with Frazier Healthcare Partners,” said Shyam Bhartia and Hari Bhartia, founders of Jubilant. “We welcome the addition of Lengo to the pipeline of companies we are working on together in drug discovery.”
About Jubilant Life Sciences Limited:
Jubilant Life Sciences Limited is an Integrated Global Pharmaceutical and Life Sciences company that engages in Life Science Ingredients, Pharmaceuticals, and Drug Discovery & Development businesses.
The Drug Discovery & Development Solutions comprises Drug Discovery Services (DDS) business through Jubilant Biosys Limited (a leading contract research organization in India) & Jubilant Chemsys Limited and Proprietary Drug Discovery business through Jubilant Therapeutics. Jubilant Life Sciences Limited has a team of around 7,700 multicultural people across the globe and is committed to delivering value to its customers across over 100 countries.
For more information: www.jubl.com
About Frazier Healthcare Partners:
Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies since 1991.
Frazier has invested in over 200 companies, with investment types ranging from company creation and venture capital to buyouts of profitable lower-middle market companies. The company has its offices in Seattle, WA, and Menlo Park, CA, and invests broadly across the US, Canada, and Europe.
For more information: www.frazierhealthcare.com