NEW YORK – Alterome Therapeutics on Wednesday said it has raised an additional $35 million in a Series A2 funding round, bringing the total amount it has raised in the round to $99 million.
The financing was led by Colt Ventures and OrbiMed, and Nextech Invest, Vida Ventures, and Boxer Capital also contributed funds. In the original Series A round, which closed in January, the San Diego-based company had raised $64 million.
Alterome plans to use the money to advance three pipeline therapies targeting cancers characterized by specific genomic alterations. The company hasn't yet disclosed the therapies or the genomic alterations of interest. The firm developed its investigational drugs using a computational chemistry platform, dubbed "The Kraken," which analyses molecular interactions and predicts ligand binding to produce insights for drug design.
"We are very pleased to welcome Colt Ventures to our investor syndicate and are grateful to our existing investors for their continued support of our vision to relentlessly push the boundaries of cancer treatments to transform the lives of patients, one alteration at a time," Alterome Therapeutics Founder and CEO Eric Murphy said in a statement.