London’s CHARM Therapeutics Raises €68.5 Million Funding In Series B Round

CHARM Therapeutics, a biotech company based in the UK, has raised €68.5 million in an oversubscribed Series B funding round. The new funding will help move its next-generation menin inhibitor closer to human clinical trials.

NEA and SR One led the funding round, supported strongly by returning investors including OrbiMed, F-Prime, Khosla Ventures, and NVIDIA.

Gary D. Glick, Ph.D., Executive Chair CHARM Therapeutics, said: "Securing funding from such a high-quality investor syndicate is a strong validation of our approach to overcoming menin inhibitor resistance. Current menin inhibitors show promise in AML treatment but are fundamentally limited by the rapid emergence of resistance mutations that cause treatment failure.

"Our next-generation inhibitors, discovered using our proprietary DragonFold AI platform, are specifically designed to overcome these resistance mutations and deliver the durable responses that patients need. This programme represents a significant opportunity to transform outcomes for patients, and we look forward to initiating clinical development early next year."

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Founded in 2025 by Laksh Aithani and David Baker, CHARM Therapeutics is a biotechnology company pioneering next-generation precision oncology treatments through its proprietary AI-driven drug discovery platform.

The company’s main project is developing a new type of menin inhibitor to treat acute myeloid leukemia (AML), a serious form of blood cancer.Unlike first-generation menin inhibitors, which often lose effectiveness due to resistance mutations, CHARM’s candidates are engineered to retain potency against all known clinical resistance mutations—offering the potential for more durable patient responses.

To date, CHARM has raised over €128 million from a group of leading global investors, including New Enterprise Associates (NEA), SR One, OrbiMed, F-Prime Capital, Khosla Ventures, and NVIDIA. The company is on track to advance its lead menin inhibitor into clinical development in early 2026.

Matthew McAviney, M.D., Partner at New Enterprise Associates, added: "We are thrilled to support CHARM as it transitions into the clinic with its highly promising next-generation menin inhibitor. The strength of the preclinical data and the clarity of the clinical development plan make CHARM well positioned to drive meaningful impact for patients facing treatment-resistant cancers. We’re proud to support CHARM during this next phase of growth."

Acute myeloid leukemia (AML) is a fast-moving and aggressive form of blood cancer that often comes with a poor outlook for many patients.

Menin inhibitors are a new class of cancer drugs that work by restoring normal gene activity in cancer cells, helping to either turn them into healthy cells or kill them off. While early versions of these drugs have shown promise, their impact has been limited. Many patients quickly develop resistance to the treatment due to mutations in the menin protein, causing the drugs to stop working and the cancer to return.

Some early menin inhibitors also have safety concerns, like potential heart rhythm problems, and need high doses, which can cause more side effects and drug interactions.

Using its proprietary AI platform, DragonFold, CHARM Therapeutics has developed a new drug candidate designed to overcome these issues. It has shown strong tumor-shrinking effects in preclinical studies and appears to remain effective even in the presence of all known resistance mutations. Importantly, it’s predicted to work at low doses in humans without causing heart-related side effects or interfering with other medications.

Mahesh Kudari, M.D., Senior Associate at SR One, said: "CHARM has leveraged its proprietary protein-ligand co-folding platform DragonFold to rapidly identify highly potent, next-generation menin inhibitors that are active against resistant mutations. We are excited to support progression of this program into clinical trials and look forward to working with the team."

As CHARM Therapeutics prepares to take its lead menin inhibitor into clinical trials, the company has strengthened its board with several key appointments.

Briggs Morrison, M.D., has joined as a non-executive director, bringing deep expertise in menin inhibitor development and the AML treatment landscape. Dr. Morrison previously served as CEO of Syndax, the company behind revumenib the first FDA-approved menin inhibitor.

Also joining the board as a non-executive director is Kim Blackwell, M.D., a seasoned oncology expert with extensive experience in clinical development. Her insights will be instrumental as CHARM shapes its clinical strategy.

Following the close of the Series B round, Matthew McAviney, M.D., Partner at NEA, and Mahesh Kudari, M.D., Senior Associate at SR One, will also take seats on the board. Their strategic guidance will help support CHARM’s next phase of growth as it moves toward the clinic.