Precision oncology company Black Diamond Therapeutics has launched a new company called Launchpad Therapeutics that will focus on developing antibody programs. Furthermore, Launchpad has raised USD 30 million in a Series A funding round from founding investors Versant Ventures and New Enterprise Associates. 

Black Diamond Therapeutics will receive a minority stake in Launchpad in exchange for its early discovery-stage antibody programs and a license to use its proprietary Mutation-Allostery-Pharmacology (MAP) drug discovery engine for large molecule therapeutics. The spin-off will allow Black Diamond Therapeutics to focus on BDTX-1535, BDTX-4933, and its small molecule pipeline. 

Launchpad will focus on discovering, developing, and commercializing early mutant selective antibody drugs to treat oncology and immunology conditions. The company will use AI and the MAP platform to develop drugs targeting monoclonal antibodies.