US-based precision oncology company FORE Biotherapeutics has raised $75m in its Series D investment round led by SR One to expedite the clinical development of plixorafenib.
Plixorafenib is a small-molecule, orally available selective inhibitor of BRAF alterations.
Co-led by Medicxi, the funding round also involved participation from existing investors HBM Healthcare Investments, OrbiMed, Novartis Venture Fund, Cormorant Asset Management, 3B Future Health Fund, Wellington Management and Samsung Securities.
Medicxi partner Giovanni Mariggi will join FORE Biotherapeutics’ board of directors.
In a Phase I/IIa trial, plixorafenib when used as monotherapy demonstrated favourable antitumour activity and tolerability in patients with advanced BRAF-altered advanced solid and central nervous system tumours.
SR One partner Matthew Foy stated: “FORE Biotherapeutics is well-positioned to deliver on the promise of plixorafenib, which has demonstrated promising single-agent activity against BRAF-altered tumours, including primary central nervous system tumours.
“We look forward to continuing to support the company as it further progresses its ongoing Phase II FORTE global registrational trial.”
In addition to Series D financing, FORE Biotherapeutics appointed a new interim CEO and board member, Shawn Leland, who is currently working as an adviser to SR One. Current CEO Matthew Ros is preparing to step down.