Cincinnati Children’s spinoff closes $15M round to help combat cancer

A mere 16 months following its initial funding round, a Cincinnati-based biotech startup has raised a Series A worth $15 million.

Kurome Therapeutics, a Cincinnati Children’s Hospital spinoff backed by local seed fund CincyTech, announced the eight-figure raise Thursday morning. It marks a quick ramp up for the company, which is developing novel therapies to help combat cancers like AML, or acute myeloid leukemia.

The round was co-led by Medicxi, a European-based life sciences investment firm, and Affinity Asset Advisors, a New York hedge fund focused in the biotech and health care space. CincyTech and other existing seed investors, including Queen City Angels, also participated.

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Story excerpt provided by Cincinnati Business Courier.

Written by Liz Engel.

Originally published June 10, 2021.