STORM Therapeutics will use the proceeds to advance its potential clinical programme targeting METTL3 to treat leukemia and solid tumours. Credit: National Cancer Institute on Unsplash.

STORM Therapeutics has raised $30m in a Series B financing round to advance its potential clinical programme targeting METTL3 to treat solid tumours and leukemias.

This financing round was led by the company’s existing investors, Pfizer Ventures, Cambridge Innovation Capital (CIC), Taiho Ventures, and M Ventures.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

It has also seen participation from new investors the UTokyo Innovation Platform (UTokyo IPC) and Fast Track Initiative (FTI), along with existing investors, IP Group and Seroba Life Sciences.

STORM Therapeutics intends to use the funds to further expand its new discovery platform for creating additional products targeting RNA modification.

The company stated that a Phase I clinical study of its orally bioavailable, highly selective METTL3 inhibitor, STC-15, started treating solid tumour patients last month.

The open-label, first-in-human, multi-centre study is designed to systematically evaluate pharmacodynamics, tolerability, safety, pharmacokinetics, and clinical activity of STC-15 in adult subjects with advanced malignancies.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Initial data from the trial are expected to be presented next year.

The METTL3 inhibitor triggers direct cytotoxic and immune response based efficacy mechanisms in leukemia and solid tumour models.

STORM Therapeutics CEO Dr Jerry McMahon said: “STORM has had a milestone year of growth and development, bringing its potential first-in-class candidate STC-15, which targets the RNA methyltransferase, METTL3, into the clinic and establishing STORM as a pioneer in this novel enzyme class.

“The proceeds from the financing will support the ongoing multiple-ascending dose trial of STC-15 and further facilitate STORM as we advance our pipeline of innovative products targeting RNA modifying enzymes for oncology, inflammation, CNS, and viral diseases.”