Flare Therapeutics Raises $123 Million Series B Financing

Biotechnology

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Flare Therapeutics Inc., a Cambridge, Massachusetts-based biotech company that targets transcription factors to discover precision medicines for cancer and other diseases, today announced a $123 million Series B financing led by GordonMD® Global Investments LP and Pfizer Ventures, with participation from existing investors Boxer Capital, Casdin Capital, Eventide Asset Management, Invus Financial Advisors, Nextech Invest, and Third Rock Ventures, as well as new investors Agent Capital, Eli Lilly, and Compaq.

In conjunction with the financing, Craig D. Gordon, M.D., Founder, Chief Executive Officer, and Chief Investment Officer of GordonMD® Global Investments LP, and Irena Melnikova, Ph.D., Partner at Pfizer Ventures, have joined the Flare Therapeutics Board of Directors.

Proceeds from the financing will fund a clinical trial in patients with advanced urothelial cancer for FX-909, a small molecule inhibitor targeting the PPARG transcription factor, as well as the advancement of a pipeline of novel transcription factor targets in oncology, including the nomination of at least one additional development candidate from the company’s research pipeline in 2024.

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Flare Therapeutics is a biotechnology company changing the paradigm in drugging transcription factors with an initial focus in precision oncology. Flare’s proprietary engine is based on the discovery of novel druggable pockets, or’switch sites,’ within transcription factor complexes that solve the problem of where to drug and how to tune gene expression in order to discover small molecule precision medicines for cancer and other diseases.

The team has rapidly advanced an emerging pipeline of assets and plans to enter the clinic in 2023 with its lead precision oncology program, FX-909, a small molecule inhibitor targeting PPARG in patients with locally advanced or metastatic urothelial cancer.

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