UK-Based STORM Therapeutics Secures $56 Million Series C Funding

The round was backed by existing investors including M Ventures, Pfizer Ventures, Taiho Ventures, IP Group, UTokyo IPC, and Fast Track Initiative.

The funding will support the development of its lead drug candidate, STC-15, including a Phase 2 clinical trial in sarcoma, where the first patient has already been dosed.

STC-15 is an oral small-molecule inhibitor targeting METTL3, an enzyme involved in RNA modification and cancer cell development.

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In earlier Phase 1 trials STC-15 showed promising results including durable tumor regression across multiple sarcoma types. The upcoming Phase 2 study aims to further evaluate its effectiveness and support potential accelerated approval.

STORM’s approach focuses on targeting RNA-modifying enzymes to reprogram cancer cells, particularly in sarcomas, which are often difficult to treat using conventional methods.

Jerry McMahon, Chief Executive Officer of STORM Therapeutics, said: “Advancing our first‑in‑class METTL3 inhibitor, STC-15, into Phase 2 clinical development marks a pivotal breakthrough in tackling cancers characterized by aberrant cell differentiation.

This milestone highlights our scientific innovation and the potential to create new therapeutic options for patients with substantial unmet needs. We are grateful for the steadfast support from our investors and are encouraged by the robust durability and activity demonstrated with STC-15 in Phase 1 studies. As we begin our Phase 2 trial our focus remains on addressing critical unmet needs in sarcoma for the benefit of patients.”

About STORM Therapeutics

STORM Therapeutics, founded in 2015, is a clinical-stage biotech company developing treatments that target RNA modifications to reprogram cancer cells. Its lead drug, STC-15, inhibits the METTL3 enzyme and is the first of its kind in human trials. It is currently being tested in a Phase 2 study for sarcoma cancers.