Alterome Therapeutics Launches With $64M Series A Financing

Alterome Therapeutics, Inc., a biopharmaceutical company developing alteration-specific targeted therapies for the treatment of cancer, announced the closing of a $64M Series A financing. The financing was led by OrbiMed, with participation from Nextech Invest, Vida Ventures, Boxer Capital, and others. Alterome Therapeutics was co-founded by Eric Murphy, Ph.D., and Ryan Corcoran, M.D., Ph.D.

Dr. Murphy, an industry veteran with 20 years in oncology research and drug discovery, will serve as the Company's chief executive and chief scientific officer. He most recently served as co-founder and chief scientific officer of Kinnate Biopharma. Dr. Corcoran, Scientific Director of the Termeer Center for Targeted Therapy and Director of the Gastrointestinal Cancer Center Program at the Massachusetts General Hospital Cancer Center, will serve on the board of directors and scientific advisory board.

"The Alterome team is grateful for the dedication and support provided by this world class investor syndicate that enables a tabula rasa to advance the precision oncology field by creating alteration-specific medicines," commented Dr. Murphy of Alterome Therapeutics, Inc.

In conjunction with the financing, Carl Gordon, Ph.D., CFA, Managing Partner at OrbiMed, Thilo Schroeder, Ph.D., Partner at Nextech, and Arjun Goyal, M.D., M.Phil, Co-Founder and Managing Director at Vida Ventures, will join the board of directors.

"We are pleased to work with this experienced management team and investor syndicate to raise the bar in targeted oncology," commented Dr. Gordon of OrbiMed.

"Founded on compelling science, Alterome's novel approach has the potential to transform the treatment paradigm for cancer patients globally," commented Dr. Goyal of Vida Ventures.

About Alterome Therapeutics, Inc.

Alterome Therapeutics, Inc. is a precision oncology biotech developing alteration-specific therapeutics to address high value and validated oncogenic drivers. The company will be led by seasoned R&D leaders with a history of developing marketed oncology small molecule drugs.