Alterome Therapeutics Raises $132M Series B

Alterome Therapeutics, a San Diego, CA-based biopharmaceutical company developing small molecule targeted therapies for the treatment of cancer, raised $132M in Series B funding.

The round was led by Goldman Sachs Alternatives, with participation from Canaan Partners, Invus, Driehaus Capital Management, Digitalis Ventures, Blue Owl Capitaland existing investors Orbimed, Nextech Invest, Vida Ventures, Boxer Capital, and Colt Ventures.

The company intends to use the funds for the advancement of multiple wholly-owned pipeline programs into the clinic, including a highly specific AKT1 E17K inhibitor and a KRAS selective inhibitor.

Led by CEO Eric Murphy, Alterome Therapeutics is a precision oncology biotech developing alteration-specific therapeutics to address high-value and validated oncogenic drivers. Leveraging its Kraken platform, a structure-guided machine learning approach to drug discovery, the company is advancing a pipeline of precision, small molecule therapies targeting a broad spectrum of validated oncogenic targets. Alterome’s founding mission focused on mutation-selective and isoform-selective approaches designed to specifically target cancer cells over normal cells, enabling greater inhibition of key cancer drivers while simultaneously enhancing the therapeutic safety profile. The preclinical pipeline features a covalent AKT1 E17K mutation-selective inhibitor and a KRAS isoform-selective inhibitor targeting 90% of KRAS mutations including the most common mutations G12V and G12D. These two lead programs are designed for patients with limited treatment options and are expected to begin clinical testing over the next year.