Cambridge's cancer drug spinout Storm Therapeutics convinced its existing investors to join new participant Seroba Life Sciences for a second extension that brought its series A total to $38.2m.
Storm Therapeutics, a UK-based developer of epigenetic cancer therapies spun out of University of Cambridge, today extended its series A round to £30m ($38.2m) with a third tranche sized at $17.8m.
Cambridge Innovation Capital (CIC), the university’s affiliate patient capital fund, took part in the extension alongside commercialisation firm IP Group and venture firm Seroba Life Sciences.
M Ventures, Pfizer Ventures and Taiho Ventures – respective investment subsidiaries of pharmaceutical firms Merck Group, Pfizer and Taiho Pharmaceutical – filled out the extension.
IP Group subsidiary Touchstone Innovations – then known as Imperial Innovations – had backed Storm’s initial $16m series A tranche in 2016 alongside M Ventures and Pfizer Ventures, before Taiho Ventures added $5.4m to the round in January last year.
Founded in 2015 as Iceni Therapeutics, Storm Therapeutics is working on cancer medications that target epigenetic RNA-modifying enzymes. RNA is the template…
