July 19 Quick Takes: Woodline, RA lead $88.5M series B for Frontier

Frontier Medicines Corp. will deploy its $88.5 million series B round to advance its lead program, which targets KRAS. Founded in 2018 based on chemoproteomics technology developed at University of California Berkeley, the Bay Area biotech has found “hotspot” binding pockets in more than 20,000 proteins and is targeting these sites using a diverse library of starting points for small molecules, targeted protein degraders and autophagy inducers.

Woodline Partners and RA Capital co-led the financing, with equal participation by Deerfield Management Co. Other new investors included Deep Track Capital, ArrowMark Partners, Driehaus Capital Management and Sphera Healthcare. Existing investors DCVC, Droia Ventures and MPM Capital participated...