On April 3, 2024, Alterome Therapeutics, Inc., a biopharmaceutical company pioneering the development of next generation, small molecule targeted therapies for the treatment of cancer, announced the closing of a $132 million Series B financing. The financing was led by Goldman Sachs Alternatives, with participation by Canaan Partners, Invus, Driehaus Capital Management, Digitalis Ventures, Blue Owl Capital, and existing investors Orbimed, Nextech Invest, Vida Ventures, Boxer Capital, and Colt Ventures. Wilson Sonsini Goodrich & Rosati advised Alterome on the transaction.

Alterome’s preclinical pipeline features a covalent AKT1 E17K mutation-selective inhibitor and a KRAS isoform-selective inhibitor targeting 90 percent of KRAS mutations including the most common mutations G12V and G12D. These two lead programs are designed for patients with limited treatment options and are expected to begin clinical testing over the next year. Proceeds from the fundraise will be used to support the advancement of multiple wholly-owned pipeline programs into the clinic, including the AKT1 E17K inhibitor and KRAS selective inhibitor.

The Wilson Sonsini team that advised Alterome on the transaction included Lance Brady, Andrew Collins, Tyler Kivley, Alison Sechrest, Stephen Heifetz, Seth Cowell, Anne Seymour, Ryan Greecher, Miranda Biven, Deborah Smith, David Clark, Kyle Headrick, and Kaia Parenti.

For more information, please see Alterome Therapeutics’ press release.