Alterome Therapeutics Raises $35 Million Series A Round

$35 million round led by new investment Colt Ventures and co-led by existing investor OrbiMed, with all existing investors participating.
Alterome Therapeutics

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Alterome Therapeutics, Inc., a biopharmaceutical company pioneering the development of alteration-specific targeted therapeutics for the treatment of cancer, today announced a Series A2 financing of more than $35 million, bringing total funds collected to approximately $100 million.

The financing round was co-led by Colt Ventures and OrbiMed, with participation from all Series A investors, including Nextech Invest, Vida Ventures, and Boxer Capital. The initial $64 million round was completed in January 2022.

The funds will be used to expand Alterome’s pipeline of three next-generation precision oncology drugs developed with “The Kraken,” the company’s in-house computational chemistry platform.

The Kraken delivers accurate, atomic-level insights into molecular interactions and enables ligand activity and binding mode predictions, which provide techniques for designing novel, highly selective, alteration-specific medicines for the company’s professional team of medicinal chemists.

Alterome Therapeutics, Inc. is a precision oncology company focused on developing alteration-specific therapeutics to target high-value and validated oncogenic drivers. The company is led by an experienced team of precision oncology R&D leaders with a track record of creating and commercializing oncology small molecule therapeutics.

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