MultiValent Biotherapies Launches With $27M Series A to Develop MVB-101, a PSMA × Folate-Receptor-Alpha Dual-Target Peptide Drug Conjugate for Prostate Cancer
MultiValent Biotherapies announced June 16 a first closing of $27.425 million in Series A financing to advance MVB-101, a PSMA × folate-receptor-alpha (FRα) dual-target peptide-drug conjugate licensed from China-based Coherent Biopharma (originally CBP-1018). MVB-101 binds two validated prostate-cancer targets simultaneously; existing PDCs and radioligand therapies (Pluvicto, Lutathera) hit one target each. MultiValent holds exclusive global rights outside greater China. A Phase 1b/2a clinical trial in a subgroup of prostate cancer patients is planned to start in Q3 2026. The launch adds another oncology PDC to a field still dominated by Pluvicto (lutetium-177 PSMA-617), Lutathera, and Pfizer's AVA6000 FAP-Dox.