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Start-ups

Philips spin-off raises $64 million for click-to-release drugs

by Gina Vitale
June 23, 2023 | A version of this story appeared in Volume 101, Issue 20

 

Tagworks Pharmaceuticals, a spin-off of Philips Healthcare, has raised $65 million in series A financing for its click-to-release therapies. The Dutch firm releases a therapeutic payload from a targeting molecule using a click reaction with a trigger molecule. Its lead program is an antibody-drug conjugate (ADC) that can be cleaved with click chemistry and targets a tumor-associated glycoprotein. The drug is made to allow a fine-tuned release and activation of the drug payload. Tagwork’s pipeline also contains ADCs and radiopharmaceuticals in the discovery phase.

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