- First participant dosed in Phase 1/2 PROSPER trial of FMC-376 in KRASG12C Cancers
- FMC-376 is a first-in-class direct dual inhibitor of ON+OFF KRASG12C
- FMC-376 has the potential to transform patient outcomes with its ability to overcome both innate and acquired resistance mechanisms and brain metastases
BOSTON and SOUTH SAN FRANCISCO, Calif., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Frontier Medicines Corporation, a precision medicine company seeking to unlock the proteome to advance transformational therapies against otherwise undruggable disease-causing targets, today announced the close of an oversubscribed $80 million Series C financing. The financing was co-led by Deerfield Management Company and Droia Ventures, with significant participation from Galapagos NV ((Euronext &, NASDAQ:GLPG) as a strategic investor, and contributions from new and existing investors including DCVC Bio, MPM Capital, and RA Capital Management. This Series C financing brings the total capital raised since Frontier's founding to $235.5 million.
"At Galapagos, we are focused on breakthrough science and innovation to address high unmet medical needs," said Dr. Paul Stoffels1, CEO and Chairman of the Board of Directors of Galapagos. "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 ...