Avenzo Therapeutics Raises Capital to Transform Cancer Treatment

Biotech funding rounds tell you a lot about the state of cancer research—which approaches are gaining traction, and where investors see the next breakthroughs.

Avenzo Therapeutics recently joined that list, raising fresh capital to push its clinical pipeline forward. The investment highlights both confidence in the company’s science and the evolving landscape of oncology therapeutics.

Avenzo's Mission: Next-Generation Oncology Solutions

Avenzo Therapeutics, founded in 2022, develops cancer treatments targeting solid tumors through small molecule inhibitors and bispecific antibody-drug conjugates. The San Diego-based company addresses critical gaps in oncology care through precision medicine approaches.

Since its founding, Avenzo has raised $446 million in total funding to advance a pipeline of four clinical assets designed to overcome treatment limitations and resistance mechanisms in cancer therapy.

Addressing Current Treatment Limitations

Existing cancer treatments face challenges including treatment resistance, limited selectivity, and dose-limiting toxicities. Current CDK4/6 inhibitors target broad pathways but may not address specific mechanisms driving tumor progression in all patients. Traditional antibody-drug conjugates often lack precision needed to target multiple tumor antigens simultaneously.

Cancer cells exploit multiple pathways to evade treatment and develop resistance. Cell cycle regulation through cyclin-dependent kinases (CDKs) represents a critical vulnerability, as these enzymes control checkpoints preventing uncontrolled cellular division. Current approved therapies often target these pathways broadly, leading to unwanted side effects and suboptimal efficacy.

Therapeutic Strategy: Dual-Modality Approach

Avenzo pursues two complementary therapeutic modalities: selective small molecule CDK inhibitors and bispecific antibody-drug conjugates.

Small Molecule CDK Inhibitors

• AVZO-021: A CDK2 selective inhibitor in development for hormone receptor-positive breast cancer and CCNE1-amplified tumors. Preclinical data indicates nanomolar potency against CDK2 with selectivity over CDK1.

• AVZO-023: A CDK4 selective inhibitor with sub-nanomolar potency and selectivity over CDK6. Data presented at AACR showed efficacy both as monotherapy and in combination with AVZO-021.

Bispecific Antibody-Drug Conjugates

• AVZO-1418: An EGFR/HER3 bispecific ADC developed through partnership with DualityBio, targeting two complementary pathways involved in tumor growth and resistance.

• AVZO-103: A Nectin4/TROP2 bispecific ADC developed through collaboration with VelaVigo, targeting two validated tumor antigens through a single therapeutic agent.

Leadership Team

Athena Countouriotis, M.D.: Co-Founder, Chief Executive Officer, and Chairperson, co-founder of Avenzo Therapeutics, with over 20 years of industry experience, leading multiple IPOs and acquisitions including Turning Point Therapeutics’ IPO and acquisition by Bristol Myers Squibb, and extensive expertise in clinical development and regulatory strategy.

Mohammad Hirmand, M.D.: Chief Medical Officer and co-founder, overseeing clinical development programs and regulatory strategy.

Strategic Partnerships

• DualityBio Partnership: In January 2025, Avenzo secured exclusive global development and commercialization rights for AVZO-1418/DB-1418 outside Greater China, accessing DualityBio's ADC technology platform.

• VelaVigo Collaboration: Avenzo obtained exclusive option rights for a Nectin4/TROP2 bispecific ADC, leveraging VelaVigo's antibody and ADC discovery capabilities.

• Gilead Sciences Alliance: Clinical trial collaboration and supply agreement to evaluate AVZO-021 with Gilead's Trodelvy for breast cancer treatment.

Funding History

• Series B (September 2025): $60 million led by OrbiMed and SR One, with participation from Longwood Fund and existing investors.

• Series A/A-1 (November 2024): $386 million led by New Enterprise Associates (NEA), Deep Track Capital, Sofinnova Investments, and Sands Capital.

The investor syndicate includes Foresite Capital, Lilly Asia Ventures, Surveyor Capital, OrbiMed, SR One, and international investors.

Clinical Development Pipeline

Current Studies:

• AVZO-021: Phase 1 study in HR+/HER2- metastatic breast cancer and advanced solid tumors
• AVZO-023: Phase 1/2 study initiated in 2025 for advanced breast cancer
• AVZO-1418: Phase 1/2 study for advanced solid tumors, first patient dosed July 2025
• AVZO-103: Phase 1/2 study initiated September 2025 for solid tumors

Market Opportunity

The CDK inhibitor market faces challenges with existing CDK4/6 inhibitors due to toxicities and resistance mechanisms. Avenzo's selective CDK2 and CDK4 inhibitors may offer improved safety and efficacy profiles.

The antibody-drug conjugate market continues expanding, with bispecific formats representing advancement over traditional approaches. Avenzo's bispecific ADCs target multiple validated pathways through proven technology platforms.

Outlook

Avenzo is positioned to advance next-generation oncology therapeutics through its differentiated pipeline and strategic partnerships. The company's dual-modality approach creates opportunities for addressing resistance mechanisms while improving treatment selectivity.

Success depends on demonstrating differentiated clinical profiles, establishing optimal dosing strategies, and executing partnerships to maximize development potential. Clinical proof-of-concept data across the portfolio will be critical for validating the therapeutic approach.