Velosbio Inc., a San Diego-based startup developing antibody-drug conjugates to treat blood cancers and solid tumors, has landed a $58 million series A financing co-led by Arix Bioscience plc and Sofinnova Ventures. Other investors included Pappas Ventures, Chiesi Ventures, Takeda Ventures Inc. and Decheng Capital. While the company has said little about its initial pipeline, the new financing is projected to help it complete a first investigational new drug application soon, Velosbio's CEO Dave Johnson told BioWorld.