BRIEF—STORM adds $30 million to chest for METTL3 inhibitor program

UK-based STORM Therapeutics, a clinical biotech discovering and developing small mSolecule therapies targeting RNA modifying enzymes for oncology and other diseases, has announced the successful completion of a $30 million Series B financing round.

The proceeds will advance STORM’s clinical program targeting METTL3 for the treatment of solid tumors and leukemias. A Phase I study of STC-15, an orally-bioavailable, highly selective METTL3 inhibitor, began treatment of cancer patients with solid tumors in November 2022.

This financing will also further expand STORM’s discovery platform to create additional products targeting RNA modification.