IFM Therapeutics, a Cambridge, Massachusetts-based biopharmaceutical company developing a portfolio of small molecules targeting the innate immune system, closed a $27m Series A financing.
The round was led by Atlas Venture and Abingworth, with participation from Novartis. In conjunction with the funding, Jean-François Formela and Vincent Miles, Partners at Atlas and Abingworth respectively, joined IFM’s CEO Gary D. Glick on the the board of directors.
The company will use the funds to advance and expand its early-stage portfolio and begin clinical development of its most advanced product candidate, a selective activator of a novel target, for treating solid tumors.
Founded in 2015, incubated as a part of the Atlas Venture seed program, IFM Therapeutics is developing modulators of novel targets that either enhance innate immune responses for treating cancer, or dampen certain immune responses that drive many inflammatory diseases.