With ADC pipeline now a top priority, Pyxis adds $152M series B

Pyxis’ $152 million series B round gives the company the ability to advance its three ADC candidates and add flexibility to create new conjugated therapeutics based on a tool-kit developed by Pfizer or further develop immuno-oncology candidates from the biotech’s original platform.

Taking a 5.6% ownership stake, Arix Bioscience plc (LSE:ARIX) led the round for Pyxis Oncology Inc. alongside a roster of crossover firms as well as prior backers including founding investor Longwood Capital. It’s the latest deal in antibody-drug conjugates for Arix, which claimed a 12x return from its investment in ADC developer VelosBio Inc. when Merck & Co. Inc. (NYSE:MRK) acquired the biotech for $2.8 billion last quarter...