Breakthru Medicine has emerges from stealth with the close of a $60m Series A financing round following a prior undisclosed seed round.
Breakthru was founded by Steve Potts, Mark Mulvihill, and Brian Barnett, to deliver therapeutic modalities to cancer patients to address major unmet medical needs.
“In creating Breakthru Medicine, we assembled an incredible in-house team that over the course of their careers have been directly involved in more than a dozen therapies that are currently approved or in late-stage clinical trials, with the majority of these having received FDA Breakthrough Therapy Designation,” said Potts, Chief Executive Officer.
“An aspirational goal for the company is to set a high bar for development candidates—to be able to pattern recognize early which programs truly are likely to achieve breakthrough success and ruthlessly eliminate those that will not. We are taking a patient-first, tumour-agnostic targeting approach that requires disruptive therapeutic modalities.”
“At Breakthru Medicine, we are redefining what’s possible by bringing every modality to the table to tackle the hardest-to-drug targets,” said Mulvihill, chief scientific officer.
“From small molecules to next-generation ADC payloads and molecular glues, our platform is designed to expand the druggable universe for patients who urgently need new options.”
The company is not publicly disclosing details at this time on its emerging molecular glue platform, or pipeline in small molecules and novel antibody-drug conjugate payloads. The focus is on targeted therapy areas that affect many cancer patients, where existing approaches have had limited success.