The financing was led by Third Rock Ventures with significant support by Boxer Capital, Nextech Invest, Casdin Capital, Invus Financial Advisors, and Eventide Asset Management, the company said in a release.

Flare targets transcription factors through "switch sites," newly identified druggable regions that control predictable and profound changes in gene expression. The company's drug discovery approach has resulted in an emerging pipeline of programs targeting transcription factor dysregulation and mutations that are known to be pivotal drivers of cancer.

Flare Therapeutics' scientific co-founders include Steven McKnight, PhD, of the University of Texas, Southwestern, and Fraydoon Rastinejad, PhD, a Wellcome-Trust senior investigator and professor at the University of Oxford.