Teon raises $30 million for cancer drugs

Teon Therapeutics, a small-molecule cancer drug start-up in San Francisco, has raised $30 million in series A financing to take its lead candidate into clinical trials. The firm is developing inhibitors of G-protein-coupled receptors that detect adenosine, lipids, and lactate in the tumor microenvironment and that in turn promote tumor growth and suppress antitumor immune responses. Blocking these receptors could suppress tumor growth and help restore the immune system’s ability to fight tumors. Teon’s first program will target the adenosine A2B receptor.