TORL BioTherapeutics, LLC (TORL), is a clinical-stage biotechnology company involved in discovery and development of new antibody-based immunotherapies designed to improve and extend the lives of patients with cancer worldwide. Today, the Company announced its closing of an oversubscribed $158 million Series B-2 financing. The financing led by Deep Track Capital, with new participation from leading global biotechnology investors including RA Capital Management, Perceptive Advisors, and Avidity Partners as well as all existing biotechnology investors including Goldman Sachs Alternatives, UC Investments, Bristol Myers Squibb, Vertex Ventures HC, Moore Strategic Ventures, Blue Owl Healthcare Opportunities, and Perceptive Xontogeny Venture Fund, brings the total raised to date to greater than $350 million. Proceeds from this Series B-2 financing will be used to continue the clinical development of TORL-1-23, the Company’s first-in-class ADC to treat CLDN 6+ tumors, through Phase 1 and a pivotal Phase 2 trial that will start in the second half of 2024. This Phase 2 trial is designed to facilitate regulatory review and potential approvals for TORL-1-23 as a new therapy for patients with CLDN 6+, platinum-resistant ovarian cancer. Proceeds will also be used to fund the on-going Phase 1 studies for the TORL-2-307 program, both a monoclonal antibody (mAb) and an ADC, for the treatment of CLDN 18.2+ solid tumors, TORL-3-600, an ADC for the treatment of CDH17+ colorectal cancer, and TORL-4-500, an ADC for the treatment of Delta like non-canonical Notch Ligand 1 (DLK1) positive solid tumors.