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Orum Therapeutics Closes $84 Million Series B Financing To Advance Novel Targeted Protein Degrader Payloads Into Clinical Trials For Cancer

Jun 23, 2021•about 4 years ago

Amount Raised

$84 Million

Round Type

series b

Boston

Description

Orum Therapeutics, a biotech company pioneering the development of targeted protein degraders to treat cancer, today announced the close of a $84 million Series B financing. This includes a previously announced $30 million financing and $54 million in new funds led by IMM Investment and joined by new investors (KDB Investment and Atinum, among others) and existing investors (Intervest and KB Investment, among others). Orum plans to use the proceeds to advance the Company’s lead therapeutic candidates into clinical trials, explore additional payload chemistries to develop additional payloads that modulate the ubiquitin pathway, and other general corporate purposes.

Company Information

Company

Orum Therapeutics

Location

Boston, Massachusetts, United States

About

Orum Therapeutics is pioneering the development of tumor-directed targeted protein degraders to improve the treatment of cancer. The company’s neoDegraders are novel, proprietary payloads for targeted protein degradation and its Antibody neoDegrader Conjugate (AnDC) platform generates first-in-class antibody drug conjugates. The first therapeutic candidates from the AnDC platform are in development for the treatment of solid tumors and hematologic cancers. Orum is located in Cambridge, Massachusetts, U.S., and Daejeon, Korea. For more information, visit www.orumrx.com.

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