Blueprint Medicines, a developer of highly selective kinase inhibitors for genomically-defined cancer subsets, has sealed a $25 million Series B financing led by oncology-focused Nextech Invest. Third Rock Ventures, Fidelity Biosciences and public investors Biotech Value Fund, Casdin Capital and others also participated in the round. The new capital brings Blueprint's total VC backing to $65 million, including a $40 million Series A investment that valued the company at nearly $53 million in 2011.
Blueprint’s lead programs include selective inhibitors of the KIT D816V mutation, which is the genomic driver of the systemic mastocystosis patient population, as well as a key genomically defined subset of patients with gastrointestinal stromal tumors. The company’s pipeline also includes isoform-selective FGFR4 inhibitors for patients with FG19-amplified hepatocellular carcinomas, the first clear genomic driver in liver cancer, and other tumors. Blueprint expects to initiate clinical trials for these programs in 2015.