Charm Therapeutics, a biotechnology firm based in Cambridge and London, has raised US$80 million in an oversubscribed series B round led by New Enterprise Associates (NEA) and SR One.

Existing investors OrbiMed, F-Prime, Khosla Ventures, and Nvidia also joined the round.

The funds will support the clinical development of Charm’s AI-designed menin inhibitor, with trials aimed to begin in Q1 2026.

Menin inhibitors are used to treat acute myeloid leukemia (AML), but first-generation versions often lose effectiveness due to resistance mutations.

Charm’s candidate is designed to retain potency against all known resistance mutations, based on preclinical data.

The company has also appointed former Syndax CEO Briggs Morrison and oncologist Kim Blackwell as non-executive directors.

🔗 Source: Charm Therapeutics

🧠 Food for thought

1️⃣ Drug resistance emerges earlier and more frequently than traditionally assumed

Recent research explains why Charm’s proactive approach to resistance mutations represents a strategic advantage in cancer drug development.

Studies indicate that treatment-resistant mutants can exist in significant numbers even before therapy begins, rather than emerging only after drug exposure1. These resistant cells may thrive alongside their non-resistant counterparts, increasing the likelihood of treatment failure more than previously understood.

This finding supports Charm’s strategy of using their DragonFold AI platform to design menin inhibitors that address known resistance mutations from the outset, rather than waiting to tackle resistance after it causes clinical issues.

The research shows that resistant mutants grow slower in isolation but can persist and proliferate when mixed with other cancer cells, challenging the traditional view that resistant variants are rare and easily eliminated1.

For investors and industry observers, this suggests that companies like Charm, which integrate resistance-circumvention into their initial drug design, may have significant competitive advantages over traditional approaches that treat resistance as a secondary concern.

The appointment of Briggs Morrison, former CEO of Syndax who developed the first FDA-approved menin inhibitor, to Charm’s board further signals the company’s strategic positioning to address first-generation limitations while leveraging the improved scientific understanding of resistance challenges.