Halda Therapeutics Secures $126M to Advance ‘Hold and Kill’ Solid Tumor Drugs into Clinical Trials

Halda Therapeutics, a biotechnology company based in New Haven, CT, has raised $126M in a Series B extension financing round, bringing the total funds raised to $202M.
The financing round included participation from new investors such as Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital, and Taiho Ventures, as well as existing investors Canaan Partners, Access Biotechnology, Elm Street Ventures, and Connecticut Innovations.
The company will use the funds to advance two RIPTAC (Regulated Induced Proximity Targeting Chimeras) candidates into clinical trials for patients with prostate cancer and breast cancer, initially in the metastatic setting where drug resistance to standard of care is prevalent.
Halda's RIPTAC therapeutics employ a novel "hold and kill" mechanism, targeting two proteins simultaneously to disrupt vital cell functions and selectively destroy cancer cells while minimizing harm to healthy tissue.
The company's lead program, HLD-0915, is set to enter a Phase I clinical trial in the first half of 2025 for metastatic, castration-resistant prostate cancer (mCRPC) patients.
The funding will also support the development of a second RIPTAC therapeutic for metastatic breast cancer and enable Halda to expand its team and develop its RIPTAC platform to address new indications.
Halda Therapeutics was founded by Professor Craig Crews from Yale University and has developed a proprietary RIPTAC modality designed to address cancer's ability to evolve bypass mechanisms of resistance, a common limitation of today's precision oncology medicines.