Funding Round attributes
PhoreMost, a UK-based biopharmaceutical company, has raised $12 million in a Series B funding round to advance its oncology-focused degrader programs. The funding was led by Parkwalk Advisors alongside existing investors BGF, Dr Jonathan Milner, Amadeus Capital and Astellas Venture Management. The funding will support the development of drugs designed to tackle cancer pathways previously considered “undruggable.” This significant investment will help PhoreMost expand its operations and accelerate the discovery of innovative therapies aimed at treating various types of cancer, aligning with the company’s mission to develop breakthrough treatments for oncology.
This new capital injection will also enable PhoreMost to advance its drug development efforts, bringing promising treatments closer to clinical trials. The company’s degrader programs focus on degrading specific proteins involved in cancer progression, providing a new approach to targeting difficult-to-treat cancers. The funding will allow PhoreMost to enhance its technology and further establish its position as a leader in the biopharmaceutical sector, particularly in the oncology space.
In conclusion, PhoreMost’s $12 million Series B funding round represents a major milestone in its mission to develop innovative cancer treatments. With this investment, the company is poised to accelerate its research and development efforts, ultimately aiming to deliver effective therapies for cancer patients globally. The funding will also enable the company to scale its operations and strengthen its portfolio of oncology-focused programs, bringing it closer to addressing some of the most challenging cancer targets in modern medicine.
