SURGE Therapeutics, a biotech company headquartered in Cambridge, Massachusetts, has secured $32 million in Series B financing to advance its intraoperative immunotherapy programs. Leading the funding round is Bioluminescence Ventures, with participation from KdT Ventures, Piedmont Capital, and existing investors.
The raised funds will be utilized to support the clinical development of SURGE's innovative intraoperative immunotherapy approach and to expand their team. Furthermore, the company intends to conduct multiple clinical trials for their injectable biodegradable hydrogel, which can be administered during any surgical oncology procedure.
Recently, SURGE achieved a significant milestone by dosing the first two patients in a Phase 1/2a trial for their leading intraoperative immunotherapy candidate, STM-416. This trial specifically focuses on patients with recurrent bladder cancer and aims to enhance post-resection outcomes. SURGE's approach involves directly delivering immunotherapy at the site where the tumor was surgically removed to prevent tumor relapse and stimulate