US-based genetic disease therapy developer Fulcrum Therapeutics completed an $80m series B round yesterday featuring corporate venturing representatives of pharmaceutical firms Sanofi and WuXi AppTec.
Sanofi Ventures and 6 Dimensions Capital were joined by Foresite Capital, which led the round, Fidelity, Casdin Capital, Section 32, NS Investments and entities affiliated with Leerink Partners as well as unnamed institutional investors
Fulcrum is developing small molecule precision drugs to treat diseases associated with the misregulation of genes. The series B capital will fund the advance of its lead program, targeting muscle disorder facioscapulohumeral muscular dystrophy (FSHD), into clinical testing.
The company is also working on treatments for central nervous system, haematologic and genetically-based neuromuscular disorders. Foresite managing director Jim Tananbaum will join its board of directors in conjunction with its investment.
Fulcrum president and CEO Robert J. Gould said: “We are delighted to have the support of this exceptional group of investors as we continue to work towards our vision of bringing new futures to patients and families affected by debilitating genetic diseases.
“This funding will provide crucial support as we move rapidly towards the clinic with our lead drug candidate in FSHD and further advance our pipeline of small molecule therapies.”
The round boosted Fulcrum’s total funding to $140m. GV, the subsidiary of internet and technology group Alphabet formerly known as Google Ventures, had invested $5m in Fulcrum in May 2017, 10 months after Third Rock Ventures provided $55m of series A funding.