Sung Joo Lee, Orum Therapeutics CEO

In­vestors give Orum Ther­a­peu­tic­s' unique take on pro­tein de­graders an­oth­er nudge to­ward the clin­ic

While pro­tein de­graders have seen an in­flux of cash in re­cent years, small mol­e­cule drugs can run in­to tox­i­c­i­ty prob­lems, due to their dif­fi­cul­ty dif­fer­en­ti­at­ing healthy cells from can­cer­ous ones, Sung Joo Lee said. His com­pa­ny Orum Ther­a­peu­tics thinks it has a so­lu­tion — and the idea has in­vestors reach­ing a lit­tle deep­er in­to their pock­ets.

Orum closed its Se­ries B round for the sec­ond time on Wednes­day morn­ing, rak­ing in an ex­tra $54 mil­lion. The team had ini­tial­ly raised $30 mil­lion back in 2019, and the suc­ces­sive round came as the re­sult of on­go­ing “or­gan­ic dis­cus­sion” with ex­ist­ing in­vestors, ac­cord­ing to CFO Jae Won Kim.

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