ProfoundBio has raised $70 million to advance two of its oncology drug candidates into clinical trial. The company is developing antibody-drug conjugates, which target cells with an antibody and deliver a toxin. That’s the same class of drugs marketed by Seattle area biotech giant Seagen, the previous employer of Profound’s co-founders, CEO Baiteng Zhao, COO Tae Han and CTO Xiao Shang. Sequoia China led the “Series A+” round, which builds on a $55 million Series A round last summer and brings total funding to date to $140 million for the startup, which has about 50 employees in Woodinville, Washington and Suzhou, China, Han told GeekWire. Sequoia Capital managing director Lynn Yang will join the company’s board of directors.

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