FogPharma Raises $178 Million Series D Funding



FogPharma®, a biotech company pioneering a new class of precision medicines that could eventually prove useful to the vast majority of therapeutic targets, including those previously thought to be “undruggable,” announced a $178 million Series D funding today. ARCH Venture Partners, Milky Way Investments, and Fidelity Management & Research Company participated in the financing round, as did 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.

The Series D funding will be used to advance and accelerate FogPharma’s growing pipeline of hyperstabilized -helical (HeliconTM) 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.

FOG-001, FogPharma’s primary Helicon polypeptide development candidate, is projected to enter clinical development in mid-2023 as the first-and-only-in-class direct TCF-blocking -catenin inhibitor with potential relevance to important cancer patient populations. Furthermore, FogPharma is developing first-in-class programs against significant, clinically proven cancer targets that have eluded other techniques, such as TEAD, NRAS, Pan-KRAS, ERG, and Cyclin E1.

FogPharma is a biopharmaceutical business that has been at the forefront of the research and development of HeliconTM polypeptides. FogPharma hopes that by developing this innovative treatment method, it will be able to solve the constraints of existing drug classes and attain universal druggability – a future in which no targets are off-limits to new medications.

FogPharma, spun out of Harvard University by Dr. Gregory Verdine, a pioneering academic scientist and successful biotech company builder, is advancing a broad pipeline of Helicon polypeptide therapeutics against important and biologically validated cancer targets that have remained elusive to other approaches, with the goal of providing new targeted treatment options for significant cancer patient populations. FogPharma is based in Cambridge, Massachusetts, and has raised more than $360 million from renowned life sciences investors to far.

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