Fulcrum Therapeutics Announces $80 Million Series B Financing
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sep 5, 2018--Fulcrum Therapeutics, a company focused on discovering and developing small molecule therapies to unlock gene control and treat serious genetic diseases, today announced the closing of an $80 million Series B financing. Proceeds from the financing will be used to advance Fulcrum’s lead program in facioscapulohumeral muscular dystrophy (FSHD) into clinical testing, and to progress its pipeline of therapeutics for rare, genetically-based neuromuscular, central nervous system and hematologic disorders.
The financing was led by Foresite Capital, with participation by Fidelity, 6 Dimensions Capital, Casdin Capital, Sanofi Ventures, Section 32, NS Investments, entities affiliated with Leerink Partners and undisclosed institutional investors. Jim Tananbaum, M.D., of Foresite Capital will join the Board of Directors at Fulcrum.
“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,” said Robert J. Gould, Ph.D., Fulcrum’s President and Chief Executive Officer. “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.”
Fulcrum is pioneering a small molecule, precision medicine approach to address serious monogenic and prevalent diseases of gene misregulation. By focusing on disease-causative genes, the company is unlocking druggable mechanisms that regulate disease to develop a new generation of therapies in various therapeutic areas. In partnership with the FSHD Clinical Trial Research Network (CTRN), the company has initiated clinical trial readiness studies in FSHD. The aim of the studies is to standardize a set of tools and measurements for Fulcrum’s future clinical drug trials.
“Fulcrum is leading the way with their small molecule, precision medicine approach to treating severe genetic diseases,” said Dr. Tananbaum. “We believe the convergence of biology and data science will be the key to unlocking novel treatments for patients and families that have run out of options. We look forward to supporting the Fulcrum team as it works to advance its rare disease-focused pipeline.”
About Fulcrum Therapeutics
Fulcrum Therapeutics is a biotechnology company developing new medicines to deliver a new future to patients and their families by transforming gene regulation in disease. Fulcrum’s therapies are based on modulating gene regulation via control of genetic on and off switches of disease genes. Fulcrum, headquartered in Cambridge, Mass., was launched by Third Rock Ventures in 2016 and named a “Fierce 15” company later that year. For more information, please visit www.fulcrumtx.com.
About Foresite Capital
Foresite Capital is a multi-stage healthcare and life sciences investment firm with $2.2 billion in assets under management. The firm aims to address areas of great unmet medical need by funding and guiding promising healthcare and life sciences businesses with transformative products and services at all stages of their life cycles. Foresite Capital takes a collaborative approach to investing with its portfolio companies by providing a multidisciplinary team of scientists, engineers, analysts, and clinicians who understand the unique business models in healthcare. Foresite Capital is based in San Francisco with an office in New York. For more information, please visit www.foresitecapital.com.
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Sarah Sutton, 518-932-3680
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: HEALTH CLINICAL TRIALS GENETICS PHARMACEUTICAL
SOURCE: Fulcrum Therapeutics
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PUB: 09/05/2018 07:00 AM/DISC: 09/05/2018 07:00 AM