Breakthru Medicine, a biotechnology company based in Phoenix, Arizona, closed a Series A financing round totaling USD 60 million to support its cancer drug development programs. The company emerged from stealth following a prior undisclosed seed round to advance disruptive therapeutic modalities for oncology.
The financing was backed by a group of experienced biotech investors, led by individuals including Dave Morehead, Fred Eshelman, PharmD, and Mark Gergen, who collectively have supported multiple venture funds and strategic biotech exits. Breakthru Medicine said the new capital will be used to advance its pipeline and technology platforms that aim to expand druggable targets in cancer.
Breakthru Medicine’s portfolio details remain largely confidential, with the company not disclosing details beyond stating they are operating an “emerging molecular glue platform”, with a pipeline of small molecules and novel antibody-drug conjugate payloads. The company plans to focus on cancers where existing approaches have had limited success.
Steve Potts, Chief Executive Officer and co-founder, brings prior experience founding and leading oncology-focused biotech ventures and has worked across companion diagnostics and targeted therapies. His co-founders include Mark Mulvihill, Chief Scientific Officer, who has led small-molecule development programs at established biotech firms, and Brian Barnett, MD, a medical oncologist with experience in IND and Phase 1 programs and pivotal clinical trials.