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LifeMine Therapeutics Announces $50 Million Series B Financing

Jan 07, 2021•over 4 years ago

Amount Raised

$50 Million

Round Type

series b

Cambridge

Description

LifeMine Therapeutics Inc., a biopharmaceutical company reinventing drug discovery by mining fungal biodiversity to develop mechanistically and structurally novel therapeutics, today announced a $50 million Series B financing from leading life sciences investors. The financing was led by Rick Klausner and Milky Way Investments, with participation from existing investors GV (formerly Google Ventures), WuXi Healthcare Ventures, Foresite Capital, Arch Ventures, Blue Pool Capital, and MRL Ventures Fund. Proceeds from the Series B financing will allow the Company to accelerate and expand its drug discovery efforts, as well as strategically advance select pipeline programs toward clinical development.

Company Information

Company

Life Mine Therapeutics

Location

Cambridge, Maryland, United States

About

About LifeMine Therapeutics LifeMine Therapeutics is reinventing drug discovery by mining fungal biodiversity to develop mechanistically and structurally novel therapeutics to address previously intractable therapeutic challenges. LifeMine’s drug discovery engine enables large-scale genomic search and retrieval of small molecule drug candidates that have a highly specific function. Through its discovery engine and proprietary fungal strain collections, LifeMine has discovered, in genomic space, hundreds of potentially high-impact drug candidates relevant to targets across all major disease areas, and has an initial focus on highly impactful precision medicines in oncology and immune modulation. The Company was founded in 2017 by renowned entrepreneur/scientists Gregory Verdine, Ph.D. and Richard Klausner, M.D., and entrepreneur/company-builder WeiQing Zhou, M.B.A. Headquartered in Cambridge, MA, and with a second site at Gloucester Harbor, MA, LifeMine has raised more than $120 million from leading life science investors. For additional information, please visit www.lifeminetx.com.

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