FORMA Therapeutics secures $100 million in Series D

Massachusetts-based FORMA Therapeutics has announced that it has closed $100 million in its Series D funding round. The round was led by RA Capital. Cormorant Asset Management, Samsara BioCapital, Wellington Management, and funds managed by Janus Henderson Investors participated in the round. Also, a healthcare investment fund took part in the round.

The proceeds from the financing round will go towards FORMA’s ongoing clinical development of FT-4202. It is the company’s pyruvate kinase-R (PKR) activator which is a potential disease-modifying therapy for sickle cell disease (SCD). The funding will also support the biopharma company’s deep pipeline including FT-7051.

Frank Lee, CEO of FORMA Therapeutics said, “This financing reflects our sharpened focus on serving patients with rare hematologic diseases and cancers.”

He added: “In the last month, we have presented important proof of mechanism and differentiating clinical data for our programs in sickle cell disease, glioma, AML and NASH. We are energized by the commitment from this group of leading industry investors as we move into 2020, another critical year with multiple clinical data readouts and a new program entering the clinic.”