Charm Therapeutics Raises $80M for AI Cancer Drug

Charm Therapeutics, a biotechnology company based in Cambridge and London, has raised US$80 million in an oversubscribed Series B funding round led by New Enterprise Associates (NEA) and SR One, with participation from existing investors including OrbiMed, F-Prime, Khosla Ventures, and Nvidia.

The funding will accelerate the clinical development of Charm’s AI-designed menin inhibitor, with trials expected to begin in Q1 2026. Menin inhibitors are used to treat acute myeloid leukemia (AML), but first-generation drugs often lose efficacy due to resistance mutations. Charm’s candidate, designed with its DragonFold AI platform, aims to retain potency against all known resistance mutations, representing a potential breakthrough in precision oncology.

Key Highlights

• Charm Therapeutics raised $80M in Series B funding
• AI-designed menin inhibitor trials to begin in 2026
• New board members strengthen oncology expertise

Recent research underscores the importance of this proactive strategy, showing that treatment-resistant cancer mutants often exist before therapy begins, not only after drug exposure.

These resistant cells, though slower growing in isolation, can proliferate when mixed with other cancer cells—making treatment failure more likely than previously assumed. By tackling resistance from the outset, Charm positions itself ahead of traditional drug developers who address resistance only after it emerges clinically.

Also Read: Marubeni Expands Pharma Reach with Phillips Pharma Deal

Adding further credibility, Charm has appointed Briggs Morrison, former CEO of Syndax and leader of the first FDA-approved menin inhibitor, and renowned oncologist Kim Blackwell as non-executive directors. Their expertise reinforces Charm’s mission to overcome resistance challenges and redefine AML treatment.