Improving DxMultiomics, Powered by Your Choices

We're building DxMultiomics to be The Central Nexus of Biotech Intelligence. To ensure a seamless experience and continuous improvement, we utilize website analytics. These tools help us monitor site performance, understand how users navigate the platform, and identify opportunities to make your research journey more efficient. We handle this data with the utmost respect for your privacy, and you can choose what works best for you.

CHARM Therapeutics raises $80 million in Series B financing to advance development of best-in-class menin inhibitor for AML
_↗ charmtx.com
News Image

CHARM Therapeutics has successfully closed an oversubscribed Series B funding round, raising $80 million to advance its next-generation menin inhibitor into clinical trials. The funding round was co-led by new investors New Enterprise Associates (NEA) and SR One, with continued support from existing investors OrbiMed, F-Prime, NVIDIA, and Khosla Ventures. This investment underscores the confidence of the global syndicate in CHARM's innovative approach to addressing the critical issue of resistance mutations that limit the effectiveness of current first-generation menin inhibitors.

Acute myeloid leukemia (AML) is a serious and aggressive blood cancer, and while menin inhibitors have shown promise, their efficacy is often short-lived due to the rapid development of resistance mutations in the menin protein. CHARM has leveraged its proprietary protein-ligand co-folding platform, called DragonFold, to design a new generation of menin inhibitors. This new drug candidate not only maintains potency against all known clinical resistance mutations but also demonstrates robust tumor regression in preclinical models.

The company anticipates that this molecule will be effective at low doses, without the safety concerns of QTc prolongation or drug-drug interactions that have been associated with earlier therapies. The goal is to provide more durable and effective treatment for AML patients by overcoming the limitations of first-generation drugs. CHARM expects to begin clinical development for this lead candidate in the first quarter of 2026.

In preparation for advancing its lead menin inhibitor to the clinic, CHARM has also strengthened its leadership with the appointment of two experienced oncology professionals as non-executive directors. Briggs Morrison, M.D., the former CEO of Syndax, brings invaluable expertise in menin inhibitor development, while Kim Blackwell, M.D. contributes significant oncology and clinical development experience. Additionally, Matthew McAviney, M.D., a Partner at NEA, and Mahesh Kudari, M.D., a Senior Associate at SR One, will join the board as non-executive directors, providing strategic guidance as the company moves into its next phase of growth. With this new funding and bolstered leadership, CHARM is well-positioned to drive its mission of developing next-generation precision oncology treatments using its AI-driven drug discovery platform.

Log In
Sign Up