Flare Therapeutics Closes Record-Breaking $123M Series B Funding Round

Flare Therapeutics Inc., a biotechnology company dedicated to discovering precision medicines for cancer and other diseases, has closed a massive $123 million Series B financing round co-led by GordonMD® Global Investments LP and Pfizer Ventures.

With the participation of existing investors Boxer Capital, Casdin Capital, Eventide Asset Management, Invus Financial Advisors, Nextech Invest and Third Rock Ventures, as well as new investors Agent Capital, Eli Lilly and Company, Memorial Sloan Kettering Cancer Center (MSK), Novartis, Pavilion Capital and ShangBay Capital, Flare Therapeutics is now poised to revolutionize the healthcare industry.

In addition, Craig D. Gordon, M.D., Founder, Chief Executive Officer and Chief Investment Officer of GordonMD® Global Investments LP, and Irena Melnikova, Ph.D., Partner at Pfizer Ventures, have joined the Flare Therapeutics Board of Directors.

Flare Therapeutics is making tremendous strides in advancing its mission of rationally designing transcription factor targeting therapies, as evidenced by the impressive investor support it has received. This year will be especially pivotal for the company, as it prepares to move its first precision oncology program, FX-909, into the clinic, continues to build its collection of druggable transcription factor targets, and develops a pipeline of potentially first-in-class therapies against genetically validated transcription factor targets for cancer.

Flexion Therapeutics is pleased to announce the successful completion of a financing round, the proceeds of which will enable the company to launch a clinical trial in 2023 for FX-909, a small molecule inhibitor targeting the PPARG transcription factor, in patients with advanced urothelial cancer.

Additionally, the funds will be used to advance a pipeline of novel transcription factor targets in oncology, with the nomination of at least one more development candidate from the company’s research pipeline slated for 2024.

Transcription factors are essential therapeutic targets that can have a tremendous impact on a variety of diseases, especially cancers. Despite their complexity, targeting them has the potential to revolutionize treatment.

That’s why Flare Therapeutics has assembled a world-class, cross-disciplinary team to think creatively and efficiently about how to design and develop a platform that can successfully target these transcription factors. Rob Sims, Ph.D., Co-founder and Chief Scientific Officer of Flare Therapeutics, recognizes the magnitude of the challenge, and is confident their team can rise to the occasion.

The Flare drug discovery platform is a revolutionary tool for discovering druggable pockets within transcription factor complexes that dictate their conformation and function. This innovative approach utilizes cutting-edge chemoproteomics, functional biochemistry, covalent chemistry and genetic techniques to gain a deeper understanding of the structural underpinnings driving transcription factor behavior.

To further support this endeavor, Flare has developed a proprietary library of compounds designed to modulate transcription factor behavior, allowing us to explore and uncover new pathways to therapeutic success.

Flare has taken on a Herculean challenge in drug discovery – targeting transcription factors. With their platform, they have achieved impressive progress, identifying over 150 switch sites across most transcription factor families and uncovering a wealth of opportunities to treat a variety of diseases. As the company’s Founder, Chief Executive Officer and Chief Investment Officer, Craig D. Gordon, M.D., of GordonMD® Global Investments LP, is confident in their success.

Irena Melnikova, Ph.D., Partner at Pfizer Ventures, is excited to join Flare’s board and support their mission to bring new medicines to patients in need. Flare’s innovative approach to targeting and drugging transcription factor switch sites holds immense potential for treating cancer and other diseases. With Flare’s groundbreaking technology, we believe there is an opportunity to unlock the therapeutic potential of this class of targets.

About Flare Therapeutics Inc.

Flare Therapeutics is revolutionizing the way we approach drugging transcription factors through precision oncology. By uncovering ‘switch sites’ within transcription factor complexes, they have developed a proprietary engine that enables the discovery of small molecule precision medicines to fight cancer and other diseases.

With their lead precision oncology program, FX-909, a small molecule inhibitor targeting PPARG, they aim to bring this breakthrough therapy to patients with locally advanced or metastatic urothelial cancer by 2023.

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