University City-based life sciences startup Fore Biotherapeutics managed to bring in $38 million in new funding during a relatively slow year, writes John George for the Philadelphia Business Journal.
Its venture capital funding is an extension of its Series D round that began a couple years ago.
This now brings the company to more than $200 million raised in venture funding since it was founded in 2011.
According to documents filed with the Securities and Exchange Commission, Fore Biotherapeutics is looking to raise an additional $8 million through the Series D-2 round.
At Fore Biotherapeutics, the focus is on developing targeted therapies for cancer patients carrying mutations that are either rare or unaddressed.
“We are trying to reset the standard of care for those patients,” CEO William Hinshaw said.
Fore Biotherapeutics recently unveiled its new lead drug candidate, called plixorafenib. The small molecule inhibitor is under development in mid-stage clinical testing as a potential therapy for cancer patients with BRAF alterations.
According to Hinsaw, the new funding will be used to advance clinical testing as a monotherapy across three different indications.
They are central nervous system disorders with BRAF mutations, BRAF mutated solid tumors and advanced solid tumors with BRAF fusions.
Read more about the work being done at Fore Biotherapeutics in the Philadelphia Business Journal.
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