Policy & Regulation
FogPharma announces USD66m from Series B financing
17 May 2018 -

Drug discovery company FogPharma reported on Wednesday the completion of USD66m Series B financing led by 6 Dimensions Capital, with participation by additional new investors as well as existing investors, including GV (formerly Google Ventures), among others.

The proceeds from the Series B raise will be used by FogPharma to advance its first-in-class beta-catenin inhibitor (iCat) programme into Phase 2 development for cancer indications, to advance clinical development of its first-in-class Cbl-b inhibitor programme and a third as-yet-undisclosed programme through IND-enabling studies as well as for its drug discovery platform for three additional, distinct and differentiated forms of cell-penetrating miniproteins.

Under the terms of the Series B financing, Dr. Leon Chen, chief executive officer of 6 Dimensions Capital; Dr Krishna Yeshwant, general partner of GV and Dr Rick Klausner, founder and director of Juno Therapeutics, GRAIL and Mindstrong, respectively, has been elected to FogPharma's board of directors.

Through seed and Series A financing, FogPharma now brings the company's total funding to-date to USD77m.

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