FogPharma, a US-based cancer precision medicine developer received $107m on Wednesday in a series C round featuring GV, a corporate venturing subsidiary of internet and technology group Alphabet.
The round was led by life sciences investment firm VenBio Partners and included 6 Dimensions Capital, an investment firm co-founded by pharmaceutical firm WuXi AppTec.
Cormorant Asset Management, Farallon Capital Management, Invus, HBM Healthcare Investments, Casdin Capital, PagsGroup, Deerfield Management, Blue Pool Capital and funds and accounts advised by T Rowe Price filled out the participants.
FogPharma’s cancer treatments use cell-penetrating miniproteins to deliver drugs to areas of the body previously inaccessible by conventional methods. The capital injection will enable it to advance its leading cancer drug candidates into clinical development.
The company has raised over $180m of funding since it was founded in 2016. GV, WuXi AppTec subsidiary WuXi AppTec Corporate Ventures and property developer Nan Fung Group took part in a $66m series B round for the company in 2018 that was led by 6 Dimensions Capital.
Blue Pool Capital, Horizons Ventures, Leerink Partners, Deerfield Management, Boyu Capital and unnamed private investors also backed the series B round. FogPharma had previously secured $11m of seed and series A funding, its earlier investors including WuXi AppTec Corporate Ventures, Deerfield Management and Boyu Capital.