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news.Fulcrum Therapeutics, a company engaged in discovery and development of small molecule therapies for the treatment of serious genetic diseases, has raised $80m in a Series B funding round.
Image: Fulcrum Therapeutics has announced closing of $80m Series B financing round. Photo: courtesy of rawpixel/Unsplash.com.
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Proceeds from the financing will be used to advance Fulcrum’s lead program in facioscapulohumeral muscular dystrophy (FSHD) into clinical testing, and to progress its pipeline of therapeutics for rare, genetically-based neuromuscular, central nervous system and hematologic disorders.
The financing was led by Foresite Capital, with participation by Fidelity, 6 Dimensions Capital, Casdin Capital, Sanofi Ventures, Section 32, NS Investments, entities affiliated with Leerink Partners and undisclosed institutional investors. Jim Tananbaum, M.D., of Foresite Capital will join the Board of Directors at Fulcrum.
Fulcrum president and CEO Robert Gould said: “We are delighted to have the support of this exceptional group of investors as we continue to work towards our vision of bringing new futures to patients and families affected by debilitating genetic diseases.
“This funding will provide crucial support as we move rapidly towards the clinic with our lead drug candidate in FSHD and further advance our pipeline of small molecule therapies.”
Fulcrum is pioneering a small molecule, precision medicine approach to address serious monogenic and prevalent diseases of gene misregulation. By focusing on disease-causative genes, the company is unlocking druggable mechanisms that regulate disease to develop a new generation of therapies in various therapeutic areas.
In partnership with the FSHD Clinical Trial Research Network (CTRN), the company has initiated clinical trial readiness studies in FSHD. The aim of the studies is to standardize a set of tools and measurements for Fulcrum’s future clinical drug trials.
Tananbaum said: “Fulcrum is leading the way with their small molecule, precision medicine approach to treating severe genetic diseases.
“We believe the convergence of biology and data science will be the key to unlocking novel treatments for patients and families that have run out of options. We look forward to supporting the Fulcrum team as it works to advance its rare disease-focused pipeline.”
Source: Company Press Release
