BRIEF—AUM Biosciences raises $27 million

In a series A financing, Singapore-based AUM Biosciences has raised $27 million, money which will be used to try to develop drugs for targets considered by some to be undruggable.

The company is also focused on attempting to delay and overcome resistance to targeted drugs in oncology.

The round was led by private equity firm Everlife and life sciences investor SPRIM Global investments (SGI).

AUM will now immediately initiate two Phase II programs for MNK and TRK inhibitors.

Earlier this year, AUM entered into a strategic collaboration with South Korean firms Handok and CMG Pharmaceutical, gaining global (ex-Korean) rights to develop and sell a Pan-TRK blocker.