Parkwalk Advisors has returned to back a $46m round for PhoreMost, weeks after the latter’s spinout Neophore attracted $21m in a series B.
PhoreMost, a UK-based biopharmaceutical spinout of University of Cambridge, closed a £33m ($46m) series B round featuring Parkwalk Advisors, the fund management subsidiary of commercialisation firm IP Group.
BGF led the round, which also attracted artificial intelligence-driven drug discovery company XtalPi and Astellas Venture Management, the investment arm of pharmaceutical company Astellas.
Trend Investment Group, O2H Ventures, Morningside Venutres and outgoing PhoreMost chairman Jonathan Milner also participated in the round.
Founded in 2014, PhoreMost has created a platform called Siteseeker that identifies drug targets and how to develop therapeutics aimed at these.
The money will allow PhoreMost’s collaboration with drug discovery company Sentinel Oncology into the clinic. The partnership is initially focused on glioma, a type of tumour affecting the brain or central nervous system.
PhoreMost will also advance a range of internal assets in oncology and ageing. Catherine Beech has been appointed as chairwoman…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
