CHARM Therapeutics Raises $68.5M Series B Funding

CHARM Therapeutics, a company focused on discovering and developing small molecule medicines, has secured $68,500,000 in new funding from investors. The capital infusion will support the advancement of its proprietary 3D deep learning-enabled platform, DragonFold, designed to identify therapies for difficult-to-drug targets. This investment underscores confidence in CHARM's innovative approach within the drug discovery sector. The company's core technology, DragonFold, utilizes the first high throughput protein-ligand co-folding algorithm. This platform empowers CHARM's team of scientists and engineers to pursue novel strategies in creating life-changing therapies for patients. The successful funding round highlights the perceived potential of AI and machine learning applications in accelerating and de-risking the complex process of drug development, particularly for targets previously considered intractable. CHARM Therapeutics plans to use the newly raised capital for continued research and development initiatives, expanding its pipeline of small molecule medicines, and scaling its operational capabilities. This significant investment round positions CHARM to further refine its DragonFold platform and accelerate its progress toward bringing innovative treatments to clinical stages. The funding is critical for sustaining the intensive, long-term nature of drug discovery and development. With this latest funding, CHARM Therapeutics is poised to intensify its efforts in developing its therapeutic candidates. The company aims to leverage this financial backing to solidify its position as a leader in AI-driven drug discovery, ultimately striving to deliver transformative medicines for patients with unmet medical needs. Its strategic focus remains on expanding the reach of its platform to address a broader spectrum of diseases.