Frontier Medicines secures US$80M for cancer drug development 

USA — Precision medicine company Frontier Medicines, has raised US$80 million in a Series C funding round to advance its targeted cancer drug program. 

This latest round, co-led by American investment firm Deerfield Management and Belgium-based venture capital firm Droia Ventures with significant participation from Galapagos, brings Frontier’s total funding to nearly US$236 million since its inception in 2019.  

The company plans to use the funds to further develop its technology, which combines protein-molecule interaction studies with advanced computing to create drugs targeting previously considered “undruggable” proteins. 

Frontier’s current focus is on cancer and immunology treatments, with its lead candidate, FMC-376, currently undergoing early-stage clinical trials.  

This drug, like its competitors Lumakras (produced by Amgen) and Krazati (produced by Mirati), targets cancers harboring the G12C mutation in the KRAS gene, a common but challenging driver of tumor growth. 

However, Frontier claims FMC-376 operates differently. 

 While existing drugs target the active form of the protein, FMC-376 can also bind to the inactive form, potentially overcoming drug resistance and improving patient outcomes. 

“Decades of cancer treatment teach us that cancer is tricky,” says CEO Chris Varma. “Completely shutting down signaling is crucial to turn off cancer growth.” 

Frontier recently dosed the first patient in its early-stage trial for KRAS G12C cancers.  

The company also has seven additional programs in preclinical development, including three from a 2020 collaboration with AbbVie. 

Despite a challenging climate for biotech companies, Frontier has chosen to remain private and focus on its research programs.  

While public listing is always an option, the company currently prioritizes demonstrating the potential of FMC-376 and achieving other milestones later this year. 

“While we always challenge ourselves to be ready to go public, the company is focused on proving FMC-376’s potential and hitting other milestones later this year.” added Mr. Varma. 

This investment round highlights the continued interest in developing new and innovative cancer treatments, particularly those targeting previously “undruggable” proteins. 

 Frontier’s unique approach and early progress have attracted significant funding and support, paving the way for further advancement of its promising drug candidate.