TCGX, a healthcare investment firm, led a $120m Series B round in Pheon Therapeutics, a drug testing firm, with participation from BVF Partners, Lightspeed, Perceptive Advisors, Atlas Venture, Brandon Capital, Forbion and Research Corporation Technologies. "This raise is a critical step as we transition into a clinical-stage company. The proceeds will fund a robust clinical development pathway for our first three ADC assets, which are based on an exceptional novel target. We are excited to be working on these promising candidates and look forward to sharing their potential therapeutic benefits with patients," Cyrus Mozayeni, Pheon CEO.