PhoreMost Ltd. closed $12M Series B round

PhoreMost Ltd. added USD $12 million to its Series B financing, bringing the total raised in the round to over $50 million. Parkwalk Advisors led the additional investment, with participation from existing investors BGF, Dr Jonathan Milner, Amadeus Capital, and Astellas Venture Management.

PhoreMost is a UK-based biopharmaceutical company focused on unlocking the next generation of drug targets. The company will use the funds for the progression of its pipeline of novel degrader assets, particularly those targeting oncology and inflammatory diseases, towards preclinical development. The funding also supports further deployment of its recently launched GlueSEEKER™ platform, which is designed to discover molecular glues for unprecedented targets, and will support the growth of new and existing pharma collaborations.