Frontier Medicines, a California-based AI biotechnology startup, has raised USD 88.5 million in a Series B funding round co-led by Woodline Partners LP and RA Capital Management, with equal participation from Deerfield Management Company. A few other new investors also participated in the round.

The proceeds will be directed toward advancing the company’s proprietary pipeline of targeted protein degradation and small molecule therapeutics. This includes its lead inhibitor, KRASG12C (both activated and inactivated forms), to treat different cancer types, such as non-small cell lung cancer (NSCLC), colorectal carcinoma (CRC), and pancreatic ductal adenocarcinoma (PDAC). 

A portion of the funds will also be utilized to launch the company’s “state-of-the-art” facility in Boston. The installation will focus on enhancing the company’s expertise in research and development (R&D), including discovery, pre-clinical development, translational medicine, and early clinical development.

Founded in 2018, Frontier Medicines develops treatments for cancer-causing proteins dismissed by traditional pharma companies as undruggable. The company uses its chemoproteomic platform, which incorporates artificial intelligence and machine learning technologies. Frontier Medicines entered into a protein degradation partnership with AbbVie in December 2020.