Pinnacle Medicines, a company focused on oral peptide therapeutics, has closed an $89 million Series B financing round to support development of its pipeline.
The new investment brings the biotech’s total fundraising to $134 million. According to the company, the round drew support from investors based in both the United States and China, highlighting cross-border interest in peptide drug delivery approaches.
Oral peptides remain a challenging but attractive area for drug development because they aim to combine the biological specificity of peptides with the convenience of pill-based dosing. Funding of this size suggests continued confidence that advances in formulation and delivery can help move more peptide programs beyond injectable administration.
Pinnacle plans to use the capital to further build out its oral peptide platform and advance candidates through development.
