Nvidia-backed Charm Therapeutics gets $80 million to take AI-designed cancer drug to clinic

September 2, 2025 - BIA member Charm Therapeutics, co-founded by Nobel laureate David Baker, has raised an $80 million Series B to move its AI-designed cancer drug into the clinic early next year.

The London-based startup attracted new investors New Enterprise Associates and SR One, alongside existing backers including Nvidia, OrbiMed, F-Prime, and Khosla Ventures.

The financing follows the departure of co-founder and CEO Laksh Aithani earlier this year. He remains on the board, while Gary Glick continues as executive chairman. Glick also leads Odyssey Therapeutics, which recently withdrew its IPO plans and is pursuing a new private financing.

Charm plans to enter the clinic in early 2026 with a menin inhibitor for acute myeloid leukemia. Its lead drug was designed using AI tools, including its proprietary DragonFold platform, which predicts how proteins and small molecules interact. The company aims to overcome resistance mutations that have limited the efficacy of first-generation menin inhibitors, while reducing side effects such as cardiac issues and drug interactions.

Alongside the Series B, Charm has expanded its board. New members include former Syndax CEO Briggs Morrison, whose company secured the first menin inhibitor approval last year, as well as former Zentalis CEO Kim Blackwell, NEA partner Matthew McAviney, and SR One senior associate Mahesh Kudari. A new chief medical officer will also be announced soon.