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Flare Therapeutics Announces Oversubscribed $123 Million Series B Financing

PRIVATEMar 22, 2023

Amount Raised

$123 Million

Round Type

Series B

CambridgeBiotechnologyHealth CareTherapeutics

Investors

Irena Melnikova, Ph.D., Partner At Pfizer VenturesCraig D. Gordon, M.D., Founder, Chief Executive Officer And Chief Investment Officer Of Gordon Md® Global Investments LpShang Bay CapitalPavilion CapitalNovartisMemorial Sloan Kettering Cancer CenterEli Lilly And CompanyAgent CapitalThird Rock VenturesNextech InvestInvus Financial AdvisorsEventide Asset ManagementCasdin CapitalBoxer CapitalPfizer VenturesGordon Md® Global Investments Lp

Description

Flare Therapeutics Inc., a biotechnology company targeting transcription factors to discover precision medicines for cancer and other diseases, today announced a $123 million Series B financing co-led by GordonMD® Global Investments LP and Pfizer Ventures, with participation from existing investors Boxer Capital, Casdin Capital, Eventide Asset Management, Invus Financial Advisors, Nextech Invest and Third Rock Ventures and new investors Agent Capital, Eli Lilly and Company, Memorial Sloan Kettering Cancer Center (MSK), Novartis, Pavilion Capital and ShangBay Capital. In conjunction with the financing, 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.

Quick answer

Flare Therapeutics raised $123 Million in a Series B round, dated March 22, 2023. Investors: Irena Melnikova, Ph.D., Partner At Pfizer Ventures, Craig D. Gordon, M.D., Founder, Chief Executive Officer And Chief Investment Officer Of Gordon Md® Global Investments Lp, Shang Bay Capital, Pavilion Capital, Novartis, Memorial Sloan Kettering Cancer Center, Eli Lilly And Company and Agent Capital. Flare Therapeutics is based in Cambridge, Massachusetts, United States.

How much did Flare Therapeutics raise?
Flare Therapeutics raised $123 Million in a Series B round on March 22, 2023.
Who invested in Flare Therapeutics?
Irena Melnikova, Ph.D., Partner At Pfizer Ventures, Craig D. Gordon, M.D., Founder, Chief Executive Officer And Chief Investment Officer Of Gordon Md® Global Investments Lp, Shang Bay Capital, Pavilion Capital, Novartis, Memorial Sloan Kettering Cancer Center, Eli Lilly And Company and Agent Capital are named as investors in this round.
What does Flare Therapeutics do?
Flare Therapeutics is a biotechnology company exclusively focused on drugging transcription factors (TFs) to fully unlock the therapeutic potential of this previously elusive target class.
Where is Flare Therapeutics based and how big is it?
Flare Therapeutics is based in Cambridge, Massachusetts, United States.
Who are the decision-makers at Flare Therapeutics?
Fundz holds 1 contact at Flare Therapeutics. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Therapeutics and Biotechnology around the same time

Companies in the same sectors as Flare Therapeutics that raised within 45 days of this round, from Fundz verified event records.

  • Convergent Therapeutics raised $90M (Series A) on May 3, 2023.
  • ARTHEx Biotech raised $46M (Series B) on May 3, 2023.
  • Zura Bio raised $16M on May 1, 2023.
  • HCW Biologics raised $26M (Debt Financing) on April 27, 2023.
  • Convergent Therapeutics raised $29M on April 27, 2023.
  • Radiant raised $6.3M (Seed) on April 26, 2023.

Who to call at Flare Therapeutics, and when

A new round usually means Flare Therapeutics is about to hire and buy. The teams that reach out first get the meeting.

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Company Information

Company

Flare Therapeutics

Location

Cambridge, Massachusetts, United States

About

Flare Therapeutics is a biotechnology company exclusively focused on drugging transcription factors (TFs) to fully unlock the therapeutic potential of this previously elusive target class. Flare Therapeutics' integrated discovery engine converges rich genetic, biochemical, and chemical insights to reveal druggable pockets and identify small molecule ligands capable of modulating TFs of high therapeutic potential. Flare Therapeutics' proteomic and mass spectrometry platform is powered by a proprietary library of electrophilic compounds unique to Flare Therapeutics. The team has rapidly established an emerging pipeline of programs, highlighted by FX-909, a first-in-class investigational orally bioavailable small molecule inhibitor of PPARG, a master regulator of the luminal lineage in advanced urothelial cancer that is currently in a Phase I study. For more information, please visit www.flaretx.com and follow us on LinkedIn.

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Funding Insights

What this usually means
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach

Flare Therapeutics raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals, including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications, based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 281,000+ organizations. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.