Cancer drug developer Frontier Medicines already has a research partnership with AbbVie. Now the preclinical-stage biotech has raised $88.5 million for its own pipeline, including a drug that could offer advantages over a recently approved Amgen cancer therapy.
The firm said the new round increased its private deal capacity to nearly $1 billion and total assets under management to around $2.5 billion.
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The company is targeting pathways such as SHP2 and KRAS G12C. RAS mutations have been an attractive target in oncology due to the central role they play in cancers.
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Many proteins known to play roles in cancers are considered "undruggable" because they lack pockets for drugs to bind to. Amgen drew attention at ASCO with data on a drug targeting a KRAS mutation, generally considered not amenable to pharmaceutical therapy.