Charm Therapeutics Raises $80M to Advance AI-Designed AML Menin Inhibitor

UK-based biotech Charm Therapeutics has successfully closed an oversubscribed $80 million Series B funding round, co-led by New Enterprise Associates and SR One, with participation from investors including NVIDIA, OrbiMed, F-Prime, and Khosla Ventures. The financing will support the advancement of Charm’s next-generation menin inhibitor into clinical development, with a Phase I trial expected to begin in early 2026. This new menin inhibitor, developed using Charm’s proprietary AI-driven DragonFold platform, is designed to overcome the resistance mutations and safety issues that limit first-generation therapies, potentially providing more durable and safer treatment for acute myeloid leukemia (AML) patients. The inhibitor is also designed for efficacy at low doses to reduce side effects such as cardiac arrhythmia and drug-drug interactions. The funding round and leadership appointments, including former Syndax executives, reflect strong investor confidence in Charm’s approach to tackling treatment-resistant cancers and entering the competitive AML market, which includes FDA-approved menin inhibitors like Syndax’s Revuforj. Charm Therapeutics aims to transform AML patient outcomes by addressing key limitations in current menin inhibitor treatments through innovative AI-driven drug discovery.