Alterome raises $132M to take next generation of AKT, KRAS inhibitors into clinic

With a new $132 million in hand, Alterome Therapeutics is finally divulging what it’s working on.

The oncology company will be using its Series B raise to bring two programs — each designed to go after specific cancer-driving mutations — to the clinic within the next year. The San Diego startup emerged from stealth in 2022, but had not disclosed its pipeline until Wednesday’s announcement.

Alterome’s first program is an AKT1 inhibitor and the second is a KRAS inhibitor. In recent years, the first drugs that specifically target AKT and KRAS have been approved by the FDA. Alterome’s goal is to develop potentially more effective and safer drugs that target well-known mutations that cause cancer.

In an interview with Endpoints News, Alterome CEO Eric Murphy noted that 55% of the Series B was “new money.” Alterome’s new raise was led by Goldman Sachs Alternatives, followed by Canaan Partners, Invus, Driehaus…
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