In 2021, the Singaporean company completed a Series A financing of $27 million. It has used the finances to develop its lead candidate, AUM001, which is a selective and synergistic MNK inhibitor. This is expected to be taken into a Phase II study in the fourth quarter 2022.

Additionaly, AUM has developed AUM601, a therapy for TRK fusions and mutations within the kinase domain, and AUM302, a potentially first-in-class macrocyclic oral kinase inhibitor rationally designed small molecule to combine pan-PIM kinase, pan-PI3K and mTOR inhibition in a single agent.

In October 2022, the company entered into an agreement to merge with Mountain Crest Acquisition Corp, a publicly-traded special purpose acquisition company (SPAC).