Frontier Medicines Raises $80 Million in Series C Financing

Frontier Medicines Corporation announced it has successfully closed an oversubscribed $80 million Series C financing, with co-leadership from Deerfield Management Company and Droia Ventures. The financing also saw significant participation from Galapagos NV as a strategic investor, alongside both new and existing investors including DCVC Bio, MPM Capital, and RA Capital Management.

This brings the total capital raised since Frontier's inception to $235.5 million. The company, specializing in precision medicine, aims to revolutionize treatment for genetically-defined patient populations, beginning with oncology and immunology. With its proprietary chemoproteomics powered drug discovery engine, the Frontier Platform, the company utilizes covalent chemistry and machine learning to target hard-to-treat disease causing proteins.

According to its press release, financing proceeds will support the advancement of multiple wholly-owned pipeline programs into clinical studies, including FMC-376. Frontier today announced the first participant dosed in the Phase 1/2 PROSPER clinical trial (NCT 06244771) evaluating FMC-376 in patients with KRAS^G12C cancers.