A biotech startup has successfully raised $80 million in a Series B financing round, co-led by New Enterprise Associates and DR One, to advance the clinical development of its menin inhibitor by early 2026. This investment signifies strong investor confidence in the company’s clinical strategy and the potential impact of its next-generation menin inhibitors on acute myeloid leukemia treatment. Menin inhibitors work by disrupting interactions between the menin and KMT2A proteins, which are crucial in the development of leukemia. Unlike current treatments that face challenges with resistance mutations, the startup believes its drug candidate can overcome these limitations. The company’s previous Series A round, which raised $50 million, was driven by its AI platform, DragonFold, designed to predict protein-ligand structures and aid in developing treatments for challenging conditions. The startup’s leadership has also evolved, with the original CEO stepping down to facilitate the transition into clinical studies, though he remains involved in an advisory role.
Has a biotech startup secured $80m for its leukemia drug?
