Frontier Medicines Raises $ 88.5 Million Series B Funding to Advance Precision Oncology and Targeted Protein Degradation Pipeline | Small molecules
Frontier Medicines Raises $ 88.5 Million Series B Funding to Advance Precision Oncology and Targeted Protein Degradation Pipeline
Category: Small Molecules
Posted on Tuesday, July 20, 2021 6:41 PM
—Funding to improve pipeline research and development, including core program targeting activated KRASG12C–
—Produced to further accelerate the development of fundamental technologies in chemoproteomics, covalent drug discovery and machine learning—
—Announcement of the Distinguished Scientific Advisory Board—
—Expansion of border operations with the opening of the Boston facility to support bi-coastal growth objectives—
SOUTH SAN FRANCISCO, CA, USA I July 19, 2021 I Frontier Medicines Corporation, a precision medicine company seeking to unlock the proteome to advance breakthroughs against otherwise untreatable pathogenic targets, today announced the closing of a $ 88.5 million Series B funding round. of dollars. The financing was co-led by Woodline Partners LP and RA Capital Management, with equal participation from Deerfield Management Company. Additional new investors in the round included Deep Track Capital, ArrowMark Partners, Driehaus Capital Management and Sphera Healthcare, as well as existing investors DCVC, Droia Ventures and MPM Capital.
“We welcome the new group of investors who participated in this funding and appreciate the confidence they have shown in our highly differentiated scientific approach,” said Chris Varma, Ph.D.., president, CEO and co-founder of Frontier Medicines. “Between the substantial protein degradation partnership with AbbVie announced at the end of last year and this funding round, we have significantly increased our resources to realize our vision of developing breakthrough drugs for patients. “
The proceeds from the sale will be used to advance Frontier’s wholly-owned precision drug pipeline against key drivers of cancer. The company’s main program is solely focused on inhibiting activated and inactive forms of KRASG12C, which is implicated in a number of cancers such as non-small cell lung cancer, colorectal carcinoma and pancreatic ductal adenocarcinoma.
“The ability to target both forms of KRASG12C, which includes the active and inactive states of the protein, with small molecule therapy would be a long-awaited scientific breakthrough, ”said Frank McCormick, Ph.D., FRS, professor at UCSF Helen Diller Family Comprehensive Cancer Center. “Importantly for patients, a drug with this dual inhibition may be more effective than a drug that targets only the inactive form of KRAS.G12C by targeting the vast majority of patients who do not respond to first-generation monoform KRASG12C inhibitors, as well as patients whose tumors become resistant to first-generation molecules.
Derek DiRocco, Partner at RA Capital Management and the newest member of the Frontier Board of Directors, added: “The fundamental technologies that Frontier has built are impressive and are uniquely integrated to form a platform for discovery and knowledge. compelling development. In addition to major programs targeting the major drivers of cancer, Frontier has identified more than 150,000 hotspots on proteins of interest that may fuel pipeline growth in therapeutic areas and protein degradation. “
Additionally, the company unveiled its Scientific Advisory Board (SAB), made up of renowned thought leaders and industry veterans who are an integral part of the Frontier team:
Joan S. Bruges, Ph.D.. is Director of the Harvard Ludwig Cancer Center and Louise Foote Pfeiffer Professor of Cell Biology at Harvard Medical School. She founded and was previously the Scientific Director of ARIAD Pharmaceuticals. She received the NIH Merit Award, an American Cancer Society Research Chair, and the ASCB Senior Career Recognition Award. She is an elected member of the American Academy of Arts and Sciences, the National Academy of Sciences, and the National Academy of Medicine.
Giulio Draetta, MD, Ph.D. is the Scientific Director of the MD Anderson Cancer Center at the University of Texas. He is responsible for the overall coordination of research efforts at MD Anderson, from discovery science to drug discovery and clinical translation, with the goal of better integrating academic and industrial science in the search for cures for the disease. Cancer.
Steven Gygi, Ph.D. is professor of cell biology at Harvard Medical School. His laboratory’s research focuses on the development and application of new technologies in the field of proteomics based on mass spectrometry.
William C. Hahn, MD, Ph.D. is William Rosenberg Professor of Medicine and COO of the Dana-Farber Cancer Institute, and is also a fellow of the Broad Institute. His laboratory focuses on understanding the cooperative interactions that help transform human cells.
Kevin Koch, Ph.D. is the former Scientific Director of Array BioPharma and a corporate partner with OrbiMed. His expertise includes drug discovery, medicinal chemistry and preclinical development.
Frank McCormick, Ph.D., FRS is a professor at UCSF Helen Diller Family Comprehensive Cancer Center and a world-renowned expert in KRAS biology. His cancer-related work with biotechnology companies includes his roles as director of molecular biology and vice president of research at Chiron Corporation. He founded and held the position of Scientific Director of Onyx Pharmaceuticals, a company dedicated to the development of new cancer therapies.
Daniel K. Nomura, Ph.D. is professor of chemistry and professor of molecular and cellular biology, and nutritional sciences and toxicology at UC Berkeley. He is the co-founder of Frontier Medicines and a leading expert in chemoproteomics.
Roberto Zoncu, Ph.D. is associate professor of biochemistry, biophysics and structural biology at UC Berkeley. He is co-founder of Frontier Medicines and an expert in cancer biology, small GTPase signaling and autophagy.
To further support its growth goals, the company also announced the addition of a state-of-the-art facility in Boston, Massachusetts, where the company plans to strengthen its employees’ expertise in research and development, including discovery, preclinical development, translational medicine and early clinical development. The site will be integrated into Frontier’s headquarters in South San Francisco, California, with department and project teams working at both sites, including diverse talent ranging from laboratory scientists to senior management.
About Frontier Medicines
Frontier Medicines is a precision medicine company that has launched a powerful discovery and development platform designed to generate drugs against disease-causing proteins previously thought to be non-drug. The company is deploying its technologies in chemoproteomics, covalent drug discovery and machine learning to potentially develop breakthrough drugs for genetically defined patient populations, starting with cancer. Frontier is advancing its wholly-owned precision drug pipeline against key drivers of cancer. The company’s main program is focused on KRASG12C and is distinguished by the fact that it targets the direct inhibition of activated and inactive forms of KRASG12C. This KRAS mutation is most commonly found in patients with non-small cell lung, colorectal and pancreatic cancers. For more information on how Frontier is boldly advancing science to defeat disease, visit www.frontiermeds.com and follow us on LinkedIn and Twitter.
SOURCE: Border drugs