DOYLESTOWN, PA — Pinnacle Medicines recently closed an $89 million Series B financing round to advance its oral peptide drug programs and expand research and development capabilities, the company announced.
The financing was co-led by LAV and Foresite Capital, with participation from Quan Capital, Hankang Capital, RA Capital Management, Logos Capital, and existing investor OrbiMed.
Pinnacle said the funding will support development of its lead programs through clinical proof of concept, with an initial focus on immunology and cardiometabolic diseases.
The company is developing oral peptide therapeutics designed to deliver effects similar to biologic drugs while offering the convenience of oral administration.
Jonathan Wang, chief executive officer of Pinnacle Medicines, said the funding will support efforts to advance the company’s platform into clinical development.
“This financing marks an important milestone for Pinnacle Medicines and reflects strong conviction in the transformative potential of oral peptide therapeutics,” Wang said.
Chengzao Sun, chief scientific officer and co-founder, said the company’s platform integrates artificial intelligence and physics-based modeling to design peptide-based treatments.
The company said its pipeline includes multiple programs targeting validated pathways in chronic diseases.
Pinnacle Medicines is a biotechnology company focused on developing oral peptide therapies using computational and molecular design approaches.
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