858 Therapeutics Exits Stealth Mode With $60M Funding

San Diego-based 858 Therapeutics, a biotech startup focused on small molecules, has exited stealth mode and announced a $60M, Series A funding. According to the company, the funding was led by founding investor Versant Ventures, with participation from NEA, Cormorant Asset Management and Logos Capital. The startup said it is developing a portfolio of small molecules directed against novel therapeutic targets in oncology, including proteins that regulate RNA and the innate immune response. The company’s founders are Jeff Stafford, Jim Veal, Gretchen Bain, all veterans of the biotech industry. The three were previously involved in several other San Diego-based discovery companies co-founded by Versant, including Jecure Therapeutics, Quanticel Pharmaceuticals and Amira Pharmaceuticals.