Policy & Regulation
FogPharma Raises USD 178m in Series D Financing
22 November 2022 - - US-based biopharmaceutical company FogPharma has secured a USD 178m Series D financing, the company said.

The financing round includes new investors ARCH Venture Partners, Milky Way Investments and Fidelity Management & Research company and existing investors VenBio Partners, Deerfield Management, GV, Cormorant Asset Management, funds and accounts advised by T. Rowe Price Associates, Inc., Invus, Farallon Capital Management, HBM Healthcare Investments, Casdin Capital, and PagsGroup, also participated.

Proceeds from the Series D financing will be used to advance and accelerate FogPharma's growing pipeline of hyperstabilized α-helical (Helicon) polypeptide therapeutics, a proprietary new class of drugs designed to overcome the limitations of today's precision medicines with broad applicability to the vast majority of disease targets and therapeutic areas.

FogPharma's lead Helicon polypeptide development candidate, FOG-001, a first-and-only-in-class direct TCF-blocking β-catenin inhibitor with potential applicability to significant cancer patient populations, is expected to enter clinical development in mid-2023.

In addition, FogPharma is advancing other first-in-class programs against important, biologically validated cancer targets that have remained elusive to other approaches including TEAD, NRAS, Pan-KRAS, ERG and Cyclin E1.

In connection with the Series D Financing, Rick Klausner, M.D., has been appointed to FogPharma's board of directors. In addition, Dr. Verdine has been appointed as chairman of the board.

Dr. Klausner is currently the founder and chief scientist of Altos Labs and founder and chairman of Lyell Immunopharma.

Dr. Klausner was founder and director of Juno Therapeutics and founder and director of GRAIL. He is also the chairman of Sonoma Biotherapeutics and co-founder and chairman of Lifemine Therapeutics.

Previously, Dr. Klausner served as senior vice president, chief medical officer and chief opportunity officer of Illumina Corp. and as executive director for global health for the Bill and Melinda Gates Foundation.

Dr. Klausner was appointed by presidents Clinton and Bush as the eleventh director of the US National Cancer Institute between 1995 and 2001.

Dr. Klausner served as chief of the Cell Biology and Metabolism Branch of the National Institute of Child Health and Human Development as well as a past president of the American Society of Clinical Investigation.

He has served in senior advisory roles to the US, Norwegian, Qatari and Indian governments.
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