Nvidia-backed CHARM Therapeutics bags $80M to push next-gen menin inhibitor into the clinic — TFN

London and Cambridge-based CHARM Therapeutics, a biotechnology company specialising in precision oncology, has raised $80 million in an oversubscribed Series B financing round to advance its lead menin inhibitor programme into clinical development.

The round was co-led by New Enterprise Associates (NEA) and SR One, with additional participation from existing investors OrbiMed, F-Prime Capital, Khosla Ventures, and NVIDIA. The company has now raised more than $150 million to date.

CHARM Therapeutics’ menin inhibitors

Founded by Laksh Aithani and David Baker, CHARM Therapeutics is a biotechnology company pioneering precision oncology treatments through its AI-driven drug discovery platform. Its lead programme is a next-generation menin inhibitor for the treatment of AML, designed to maintain potency against all known resistance mutations.

Acute myeloid leukaemia (AML) remains an aggressive blood cancer with limited treatment options. While menin inhibitors have recently emerged as a clinically validated class, first-generation therapies have been hampered by resistance mutations that undermine their efficacy and lead to relapse.

CHARM Therapeutics is developing a new generation of menin inhibitors designed to address these challenges. Using its DragonFold AI-enabled protein-ligand co-folding platform, the company has identified a candidate that maintains potency against all publicly described clinical resistance mutations. Preclinical models have demonstrated robust tumour regression, and the molecule is predicted to work effectively at low doses without prolonging QTc intervals or causing drug-drug interactions.

Gary D. Glick, Ph.D., Executive Chair of CHARM Therapeutics, said the financing validates the company’s approach to overcoming 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.”

Matthew McAviney, M.D., Partner at NEA, added: “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.”

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 the progression of this programme into clinical trials and look forward to working with the team.”