Orum, a biotech marrying ADCs with protein degraders, captures $100M in funding [Yahoo! Finance]
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Source: Yahoo! Finance
Biotechnology startup Orum Therapeutics has banked 146 billion Korean won, or about $100 million, to fuel development of medicines that merge elements of two popular drugmaking approaches. Orum on Thursday said that proceeds from the round — which was led by KB Investments and involved seven other firms — will help advance a potential acute myeloid leukemia drug called ORM-1153 and that recently became its top candidate. The startup, which has offices in Cambridge, Massachusetts, and Daejeon, South Korea, is developing what are known as “degrader-antibody conjugates.” These drugs are a twist on the antibody-drug conjugates, or ADCs, used to treat multiple cancers. ADCs link a targeting molecule to a tumor-killing toxin. Orum's drugs, by comparison, use a protein-degrading compound as a payload. Previously, Orum's program ORM-5029 was being evaluated against HER2-positive breast cancers and was due to read out Phase 1 study results over the summer. However, CEO Sung Joo Lee said
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