NEW YORK – FogPharma on Friday said it raised $145 million through a Series E financing round that it will use to develop its β-catenin inhibitor FOG-001 in solid tumors with Wnt pathway-activating mutations.
Nextech Invest led the financing round with participation from new and existing investors. FogPharma previously raised $178 million in a Series D financing.
FogPharma began a Phase I/II trial of FOG-001 in June 2023. In the trial, investigators are assessing the safety, tolerability, pharmacokinetics, pharmacodynamics, and anti-tumor activity of FOG-001 in about 200 patients with Wnt/β-catenin signaling pathway-activated advanced or metastatic solid tumors. They are initially focusing on patients with microsatellite stable colorectal cancer with or without Wnt pathway-activating mutations. Subsequent cohorts will include patients with non-small cell lung cancer, gastric or gastroesophageal cancer, and other solid tumors bearing Wnt pathway mutations.
FogPharma investigators are primarily interested in tracking patients' treatment-emergent adverse events, dose-limiting toxicities, and overall response rates on FOG-001. Secondary outcome measures in the trial include pharmacokinetic and pharmacodynamic measurements of FOG-001 dosing plus patients' progression-free survival and duration of response on treatment.
"This financing will allow us to execute on our expanded clinical development and commercialization strategy to deliver FOG-001 to patients while simultaneously strengthening our discovery efforts against other compelling intracellular targets that drive a range of diseases," FogPharma President and CEO Mathai Mammen said in a statement.
The Cambridge, Massachusetts-based company said it will also use the money from the financing round to accelerate development of its discovery programs and strengthen its technology platform.