BlossomHill Therapeutics
Overview
BlossomHill Therapeutics, Inc. is a biotechnology company specializing in the design and development of small molecule medicines aimed at treating cancer and autoimmune diseases. Founded in 2020, the company is based in San Diego, California. It was established by J. Jean Cui, Ph.D., an accomplished chemist with a track record of drug development, and Y. Peter Li, Ph.D., M.B.A. BlossomHill Therapeutics has raised approximately $173 million in total funding, with $100 million secured in its recent Series B round in February 2024.
Recent Developments
- February 2024: BlossomHill Therapeutics secured $100 million in Series B financing led by Colt Ventures with participation from Cormorant Asset Management, OrbiMed, and Vivo Capital, among others. The funding will support its development programs for high-need cancers and autoimmune diseases, steering some projects towards clinical trials.
- July 2024: BlossomHill announced the move to a new headquarters in Torrey Pines, a strategic decision aligned with its transition from a preclinical to a clinical-stage company. This expansion accommodates anticipated growth, crucial for supporting developing programs.
- 2023-2024: The company focused its efforts on advancing oncology programs into Phase 1 clinical trials and progressing several preclinical programs for IND-enabling studies.
- Feb 2024: Jingrong Jean Cui, the co-founder, was elected to the National Academy of Engineering, recognizing her contributions to the field of drug design and development.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | San Diego, CA, USA |
| Founders | J. Jean Cui, Y. Peter Li |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Colt Ventures, Cormorant Asset Management, OrbiMed, Vivo Capital |
| Industry | Biotechnology, Pharmaceuticals |
| Number of Employees | Approximately 40 |
Early History
BlossomHill Therapeutics was established in June 2020 by distinguished drug designer Dr. Jean Cui and biotech veteran Dr. Yishan Peter Li. The genesis of BlossomHill traces back to the founders' previous success with Turning Point Therapeutics, which they co-founded and later sold to Bristol Myers Squibb for $4.1 billion in 2022. Blossoming amid the COVID-19 pandemic, the company quickly attracted significant investments and established its focus on small-molecule treatments that target unmet medical needs in oncology and autoimmune diseases.
Company Profile and Achievements
BlossomHill Therapeutics operates with a strategic focus on developing small molecule drugs designed to overcome resistance mechanisms often seen in cancer treatments. Its innovative approach combines advanced drug design expertise and creative molecular modeling to target complex diseases effectively.
- 2020: Co-founded by Dr. Jean Cui and Dr. Y. Peter Li, setting the groundwork with initial funding.
- 2021-2022: Secured $71 million in Series A financing, paving the way for accelerated drug development.
- 2024: Closed a $100 million Series B financing round, aimed at transitioning key programs into clinical trials and enhancing its oncology pipeline.
- Achievements: The company focuses on creating novel chemical entities tailored to fight both on-target and off-target resistance mechanisms in cancer therapy, utilizing cutting-edge chemotype design.
Current Operations and Market Position
BlossomHill Therapeutics is actively advancing its pipeline with a mix of oncology and autoimmune disease programs. Its current business activities include early-phase clinical trials and extensive IND-enabling studies. With its move to a new headquarters, the company has fortified its commitment to growth, preparing to double its staff within the coming years to support burgeoning clinical operations. Positioned in the competitive biotech landscape, BlossomHill leverages its founders' rich experience and a robust investor syndicate to propel its innovative therapies to market, aiming to redefine treatment standards in its focus areas.
Blossomhill Therapeutics Series B
The Series B funding round, closed in 2024, was instrumental in boosting BlossomHill's resources for drug discovery and advancing clinical trials. Leading the round was Colt Ventures, with significant contributions from existing and new investors, enhancing confidence in BlossomHill's strategic direction and innovative pipeline development.
Who Owns Blossomhill Therapeutics
BlossomHill Therapeutics is a privately held biotechnology company. Key ownership stake lies with its co-founders, J. Jean Cui and Y. Peter Li, alongside major investors from recent funding rounds, including Colt Ventures, Cormorant Asset Management, and OrbiMed, among others.
Conclusion
BlossomHill Therapeutics stands out as a robust entity in the biopharmaceutical industry, harnessing innovative drug design to tackle pressing medical challenges in oncology and autoimmune diseases. With significant funding and an impressive leadership team, the company is poised for substantial progress and market impact in the coming years. Its strategic moves, including expansion into larger operational spaces and advancing promising drug candidates into clinical stages, underscore its ambitious trajectory towards becoming a key player in precision medicine.