US-based biotech company eFFECTOR Therapeutics has secured $38.6m in a series C venture financing round led by Pfizer Venture Investments (PVI).

The company plans to use the funds to progress the development of its MNK1/2 inhibitor, eFT508, into Phase II development.

VenatoRx Pharmaceuticals has secured $42m in a series B venture financing round led by Versant Venture Management.

"VenatoRx Pharmaceuticals has secured $42m in a series B venture financing round led by Versant Venture Management."

The US-based biopharmaceutical company plans to use the funds for the development of its product portfolio.

Kezar Life Sciences, a biopharmaceutical company based in the US, has secured $50m in a series B venture financing round led by Cormorant Asset Management.

The company will direct the funds towards the development of its immunoproteasome inhibitor KZR-616.