Finance Watch: FogPharma’s Platform Against Unreachable Targets Attracts $145m Series E

CEO Mammen Gets Former J&J Boss Gorsky To Invest

 
• By Mandy Jackson
  
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Private Company Edition: FogPharma raised $145m for its clinical-stage drug and earlier programs after bringing on former Johnson & Johnson R&D head Mathai Mammen as CEO last year. Also, BlossomHill closed a $100m series B round and Kenai emerged with $82m in series A cash.

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FogPharma ended 2022 with a big cash haul – $178m from a series D venture capital round – and in 2023 achieved a couple of big milestones that helped the company raise its next big financing this year. The company’s series E round, a $145m financing announced on 1 March, follows recruitment of CEO Mathai Mammen in March of last year and dosing of the first patient in a Phase I/II clinical trial of its lead drug candidate, FOG-001, in June.

Cambridge, MA-based FogPharma recruited Mammen from Johnson & Johnson where he helmed the big pharma’s research and development organization....

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