PAQ Therapeutics Extends Series B to $77 Million and Advances Pan-KRAS Degrader into Phase 1

New updates have been reported about PAQ Therapeutics.

PAQ Therapeutics has strengthened its capital position and clinical pipeline by closing a Series B extension that brings its total Series B financing to $77 million, while simultaneously initiating first-in-human dosing of its pan-KRAS degrader, PT0511. The additional funding, backed by a mix of new and existing investors, is intended to support the ongoing Phase 1 development of PT0253, PAQ’s KRAS G12D-specific degrader, and to finance the clinical advancement of PT0511, underscoring the company’s multi-asset strategy in KRAS-driven oncology. CEO Nan Ji, PhD, described the financing extension and first-patient dosing as key milestones that reinforce PAQ’s execution capabilities and its focus on addressing substantial unmet need in cancers driven by KRAS alterations.

PT0511 is designed as a pan-KRAS degrader targeting multiple oncogenic KRAS variants, aiming to offer broader coverage than single-mutation agents and to overcome limitations associated with current KRAS- and pan-RAS inhibitor therapies. The Phase 1 trial is an open-label, dose-escalation study in patients with advanced solid tumors harboring KRAS alterations, evaluating safety, tolerability, pharmacokinetics, and early signals of anti-tumor activity. Chief Medical Officer Andrew Krivoshik, MD, PhD, noted that moving PT0511 into the clinic expands PAQ’s portfolio beyond single-mutation targeting and positions the company to test a potentially more versatile therapeutic modality. Strategically, these steps advance PAQ’s goal of building a differentiated KRAS franchise based on targeted protein degradation, with an emphasis on deep, selective pathway suppression that could support favorable safety and combination profiles—key considerations for future partnering, lifecycle management, and value creation across KRAS-mutant solid tumors.