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Dracen Pharmaceuticals, a Baltimore-based biotech firm focused on immunometabolism, has come out of stealth with a $40 million funding round. Deerfield Management committed the lion’s share of the cash. Dracen is developing glutamine antagonists to be used alone and in combination with a class of immuno-oncology drugs called checkpoint inhibitors. The compounds in its pipeline were discovered at Johns Hopkins University and the Institute of Organic Chemistry & Biochemistry of the Czech Academy of Sciences.
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