Presage Biosciences raises $13M and inks new deal with Merck for cancer drug tests
New funds, new partners: Seattle’s Presage Biosciences announced $13 million in funding as well new collaborations with biotech giant Merck and California-based Maverick Therapeutics. Presage is a biotech device company that has built a platform for testing new cancer drugs used to treat tumors. Quicker, cheaper drug screening: Before a cancer drug is given to patients in phase I trials, it’s first tested in the lab. Fred Hutch roots: Presage launched in 2009 as a Fred Hutchinson Cancer Research Center spinoff built on technology developed by Fred Hutch oncologist Dr. Jim Olson. Presage previously raised early rounds from angels and friends and family investors, followed by two strategic rounds with Celgene and Takeda.