A cancer-treatment startup founded by a University of Chicago researcher has raised $22 million, led by pharmaceutical giant Bayer.
Pyxis Oncology plans to commercialize research by Dr. Thomas Gajewski into T cells, or white blood cells that fight disease, and develop antibodies that could lead to new cancer treatments. Immunotherapy, or using the body's immune system to fight disease instead of chemical compounds alone, and oncology are two of the hottest areas in the pharmaceutical industry.
The funding for Pyxis, led by Bayer’s investment fund, Leaps by Bayer, also included Agent Capital, Ipsen and Longwood Fund. The company will be led by David Steinberg of Longwood, a healthcare venture fund based in Boston.
Pyxis will be based in Boston, which is one of the nation's top locations for immunotherapy talent. Gajewski will continue to be based in Chicago, where Pyxis also will have a small research team. Co-founder John Flavin, a veteran life-sciences executive who led an innovation and entrepreneurship program at U of C from 2013 to 2018, will be chairman of Pyxis.