Alterome Therapeutics, a prominent biotechnology firm specializing in cancer therapies, announced on Wednesday that it has successfully raised $132 million in a Series B financing round.

The funding round elevated the company's total capital to nearly $232 million and was led by Goldman Sachs Alternatives (NYSE:GS).

It witnessed significant participation from a consortium of investors, including Canaan Partners, Driehaus Capital Management, Invus, Digitalis Ventures, Blue Owl Capital (NYSE:OWL), as well as contributions from existing stakeholders.

This substantial financial injection is earmarked for the advancement of Alterome's diverse portfolio, with a specific focus on propelling multiple wholly-owned pipeline programs forward.

Among these, two precision oncology programs are highlighted for their potential, with plans to transition them into clinical development within the upcoming 12 months.

The Series B financing round represents a significant milestone for Alterome Therapeutics, marking its first major fundraising effort since the Series A round in January 2022, where it raised $64 million.

This latest round of funding underscores the biotech firm's continued growth and the robust confidence of the investment community in its innovative approach to cancer therapy development.