A $123M Flare will get Third Rock on­col­o­gy biotech in­to the clin­ic this year

Flare Ther­a­peu­tics will start its first hu­man tri­al this year with an in­ves­ti­ga­tion­al urothe­lial can­cer drug af­ter pulling to­geth­er a $123 mil­lion Se­ries B from Big Phar­mas, VCs and its in­cu­ba­tor, Third Rock Ven­tures.

Launched in 2021 on the idea that a biotech could fi­nal­ly suc­ceed at drug­ging the much-sought-af­ter but stub­born tran­scrip­tion fac­tor, Flare Ther­a­peu­tics said Wednes­day it is now primed for the clin­ic af­ter clos­ing its large fi­nanc­ing haul ear­li­er this year. The raise is a rel­a­tive­ly stark fig­ure in a tough start­up fi­nanc­ing en­vi­ron­ment but fur­ther buoys the up­beat sig­nals com­ing out of oth­er Third Rock biotechs in re­cent weeks, in­clud­ing the $200 mil­lion CAR­GO Ther­a­peu­tics and $100 mil­lion Rap­port Ther­a­peu­tics rounds.

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