FogPharma raises $145 million in rare Series E round

FogPharma, an oncology startup based in Cambridge, Mass., recently closed a $145 million Series E round of financing. The company is developing cancer treatments using unique peptides called helicons that could potentially improve cell penetration. CEO Mathai Mammen believes that many drugs released by pharma and biotech companies are only incrementally better than existing treatments, offering limited benefits to patients. FogPharma aims to deliver something truly innovative in the field of cancer treatment. This latest funding round places the company in a late stage of financing, a milestone that is rare among biotechs.

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