Molecular Templates, a cancer therapeutics shop based on technology developed at the Ontario Cancer Institute and University of Toronto, will relocate from Toronto to Texas after closing a $2.5 million Series A venture financing round from Austin-based Santé Ventures, the venture capital firm said last week.

Molecular Templates will use the financing to advance into clinical trials a lead melanoma compound, and to develop other cancer therapeutics using its proprietary protein-engineering and high-throughput screening platform technology.

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