FORMA Therapeutics, a developer of a new generation of cancer therapies, announced that it has completed a $25.5m Series B financing round.
The round was led by new investor Lilly Ventures, with participation from existing investors Novartis Option Fund and Bio*One Capital of Singapore. Current anti-infective drug discovery partner, Cubist Pharmaceuticals, Inc., joined as a new equity investor through a conversion of a previously-issued note.
In conjunction with the financing, Steve Hall, Ph.D., a Venture Partner at Lilly Ventures, will join FORMA’s board of directors.
As stated by Steven Tregay, CEO of FORMA, with this new funding, FORMA will focus on advancing its internal target-based oncology programs and in parallel, it will continue to pursue non-dilutive collaborations to further build our integrated drug discovery platform.
FORMA is developing a new generation of cancer therapies aimed at previously elusive drug targets. The Company is achieving this by applying its proprietary cell-based screening, structure-guided drug discovery and Diversity Oriented Synthesis (DOS) technologies, which FORMA also uses to discover novel compounds for its partners in indications beyond oncology. FORMA is headquartered in Cambridge, MA with additional research operations in Connecticut, Singapore and Beijing.