Forma Therapeutics, a developer of a new generation of cancer therapies aimed at previously elusive, protein-protein drug targets, has closed on a $25.5m series B financing. The round was led by new investor Lilly Ventures, with participation from existing investors Novartis Option Fund and Bio*One Capital of Singapore.
Lilly Ventures partner and new Forma board member Steve Hall said, “Forma has positioned itself to tackle the most challenging targets in oncology drug discovery, and I look forward to working with such an energetic and talented team. The company’s unified approach to drug discovery, via its integrated biology and chemistry platforms, allows Forma to explore advances in the understanding of new and previously elusive drug targets, and to translate those discoveries into promising drug candidates for those targets.”
Capitalising on the targets and pathways validated by the Cancer Genome Atlas Project and other related efforts, Forma is developing a new generation of cancer therapies aimed at previously elusive drug targets.
Lilly Ventures currently has $200m under management and focuses on investments in biotechnology, medical technology and healthcare IT.
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