BRIEF—FORE Biotherapeutics gets $75 million financing

FORE Biotherapeutics today announced the closing of its $75 million Series D financing.

The financing was led by the SR One and co-led by Medicxi and joined by existing investors.

FORE Biotherapeutics’ syndicate now includes new investor Medicxi, as well as existing investors OrbiMed, HBM Healthcare Investments, Novartis Venture Fund, 3B Future Health Fund, Cormorant Asset Management, Wellington Management and Samsung Securities.

The proceeds will be used to accelerate the development of plixorafenib, the company’s novel, investigational, small-molecule, next-generation, orally available selective inhibitor of BRAF alterations.

Data recently presented at ASCO showed plixorafenib demonstrated promising antitumor activity with durable responses and favorable tolerability as a single agent in patients with advanced BRAF-altered tumors.

Board changes

In connection with the financing, the company has appointed Giovanni Mariggi, a partner at Medicxi, to FORE Biotherapeutics’ board of directors and Matthew Ros will step down as chief executive and board member.

Shawn Leland, current advisor to SR One and former founder, president, and CEO Oncology, will step in as interim CEO and member of board.