Silverback Therapeutics, Inc. announced that it has received $68.400013 million in funding from a group of investors

On March 11, 2020, Silverback Therapeutics, Inc. closed the transaction. The transaction was led by new investors U.S. Venture Partners XII, L.P. and U.S. Venture Partners XII-A, L.P., funds managed by U.S. Venture Partners 6,944,444 shares for $14,999,999, and included participation from new investors Hunt Technology Ventures, L.P., Pontifax Ltd., Colt Ventures, Nextech Invest Ltd., and NS Investment, and returning investors OrbiMed Private Investments VI, LP, a fund managed by OrbiMed Advisors LLC subscribing 9,259,259 shares for $19,999,999, Alexandria Venture Investments, LLC, and Celgene Corporation. Jonathan Root from U.S. Venture Partners, and Thilo Schroeder from Nextech Invest Ltd. have joined the company's board of directors.

The transaction was oversubscribed. The company raised $31,754,277 from 16 investors in the transaction pursuant to Regulation D.