Dauntless raises $12M series A

Asset-centric company Dauntless Pharmaceuticals Inc. (San Diego, Calif.) made its debut on Tuesday with a $12 million series A round from Sofinnova Ventures and a deal with drug delivery company Aegis Therapeutics LLC (San Diego, Calif.).

Dauntless plans to form separate corporations for each of its assets. Its Dauntless 1 entity houses DP1038, which is in preclinical development to treat endocrine cancers. The product uses Aegis' Intravail delivery technology and is being developed under section 505(b)(2) of the Food, Drug and Cosmetic Act. It is expected to start Phase I testing in mid-2016. ...