Biopharmaceutical company Molecular Templates Inc. has completed a $2.5 million Series A round of financing.

Austin-based Molecular Templates, which develops a protein platform for new cancer therapeutics, plans to use the capital to continue its product development and conduct human clinical trials, company officials said.

Austin-based Santé Ventures was the sole investor.

Molecular Templates has a lead compound for melanoma that is expected to enter human clinical trials and is developing additional compounds against other cancers, company officials said.

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