Deerfield Management Company Leads $80M Series C In Frontier Medicines

Frontier Medicines Corporation, a Boston, MA- and San Francisco, CA-based precision medicine company developing therapies against otherwise undruggable disease-causing targets, received $80M in Series C funding.

The round, which brought the total amount to$235.5M, was led by Deerfield Management Company and Droia Ventures, with 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. 

The company intends to use the funds to support the advancement of multiple wholly-owned pipeline programs into clinical studies, including FMC-376.

Led by CEO Chris Varma, Frontier Medicines is a clinical stage precision medicine company developing medicines to transform treatment for genetically-defined patient populations, starting with oncology and immunology. Its proprietary chemoproteomics empowered drug discovery engine, the Frontier™ Platform, leverages covalent chemistry and machine learning for hard-to-treat disease causing proteins for drug development. The company is advancing a diversified pipeline of precision medicines against the most important drivers of cancer and high-value immunology programs. Its lead candidate, FMC-376, is a dual inhibitor of on+off KRASG12C. It is a potential therapy designed to block both forms of the KRAS mutation to overcome the lack of response and resistance seen with single-acting KRASG12C inhibitors.

Commenting on the news, Chris Varma said: “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.”