TwoStep Therapeutics raises $62.5 million Series A backed by Pfizer and Merck KGaA venture groups

TwoStep Therapeutics, a cancer biotech, announced a $62.5 million Series A financing to advance its novel approach to antibody-drug conjugates and radioligand therapies.

The round was supported by the venture arms of Pfizer and Merck KGaA, indicating strong interest from major pharma investors in the company's differentiated platform.

The funding will be used to move the technology into clinical testing and further develop its pipeline of targeted cancer treatments.