CA-based Frontier Medicines Corporation secures $80million in series C round funding. The financing was co-led by Deerfield Management Company and Droia Ventures, with significant participation from Galapagos NV as a strategic investor, and contributions from new and existing investors including DCVC Bio, MPM Capital, and RA Capital Management.
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Dr. Paul Stoffels[1], CEO and Chairman of the Board of Directors of Galapagos said, “At Galapagos, we are focused on breakthrough science and innovation to address high unmet medical needs, Frontier Medicines is a leading chemoproteomics company with a unique technology platform and a pipeline of potential best-in-class assets that fit with Galapagos’ precision oncology R&D approach. The participation in Frontier Medicines’ Series C round aligns with our innovation acceleration strategy to bring transformational medicines to patients around the world.”
Financing proceeds will support the advancement of multiple wholly-owned pipeline programs into clinical studies, including FMC-376. Frontier today announced the first participant dosed in the Phase 1/2 PROSPER clinical trial (NCT 06244771) evaluating FMC-376 in patients with KRASG12C cancers.
Chris Varma, Ph.D., chairman, CEO, and co-founder of Frontier Medicines said, “Today we mark the first participant dosed with a therapeutic candidate born from the Frontier™ Platform, alongside a financing that affirms continued strong investor support. Frontier Medicines has amassed a robust data set that shows FMC-376 is expected to overcome the resistance seen with prior generation single-acting inhibitors, and we are excited to demonstrate this potential in the clinical setting, This represents a major milestone for the Frontier team in our mission to deliver transformational medicines for patients in need. We look forward to further progress on our pipeline of wholly-owned precision medicine programs later this year.”
About Frontier Medicines
Frontier Medicines is a clinical stage precision medicine company pioneering groundbreaking medicines to transform treatment for genetically-defined patient populations, starting with oncology and immunology.
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Their proprietary chemoproteomics powered drug discovery engine, the Frontier™ Platform, leverages covalent chemistry and machine learning to unlock hard-to-treat disease causing proteins for drug development.
