# Prelude Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/prelude-therapeutics

- Industry: Biotechnology
- Headquarters: Wilmington, US
- Website: www.preludetx.com
- Total disclosed funding: $80M
- Latest round: Series C (Aug 21, 2020)
- Investors on record: 2

## About

Prelude Therapeutics Inc., based in Wilmington, US, focuses on precision oncology by developing innovative medicines to meet critical needs in cancer treatment, emphasizing targeted therapies.Founded in 2016 and headquartered in Wilmington, US, Prelude Therapeutics Inc. specializes in precision oncology. The company has engaged in 7 deals, with its most recent funding round being a Private Placement/Follow on, raising USD 100.00 mn in total. The latest funding round occurred on December 11, 2023, aimed at supporting the development of its innovative drug pipeline. The company is led by CEO Kris Vaddi, who has a background in biotechnology and has previously founded and led other ventures.Prelude Therapeutics specializes in precision oncology, focusing on the development of innovative medicines aimed at addressing high unmet needs in cancer treatment. The company’s core product offerings include first-in-class, highly selective SMARCA2 and KAT6A degraders, designed to target specific oncogenic drivers and enhance treatment efficacy in cancers such as ER+ breast cancer and other solid tumors. These degrader molecules are part of a broader portfolio that also encompasses next-generation degrader antibody conjugates and selective CDK inhibitors, including CDK9 and CDK4/6 inhibitors. Prelude Therapeutics primarily serves healthcare providers, oncologists, and pharmaceutical partners in established markets including North America and Europe, aiming to improve patient outcomes through tailored cancer therapies.Prelude Therapeutics generated revenue of USD 7.00 mn in the most recent year, 2024, with an EBITDA of USD -136.85 mn. The company primarily generates income through partnerships with pharmaceutical companies and research institutions, focusing on collaborative drug development, and enters agreements involving milestone payments and royalties based on successful commercialization.In December 2023, Prelude Therapeutics Inc. raised USD 25 mn in a private placement, selling 7.9 million shares at USD 3.15 per share on the NASDAQ. The funds will support the ongoing development of upcoming products, including innovative cancer therapies targeted for release in the near future. The company aims to expand its reach into new markets, specifically targeting regions in Europe and Asia by 2025, enhancing its global footprint in precision oncology.

## Funding rounds

- Series C, Aug 21, 2020, $50M — OrbiMed Advisors, Fidelity Investments
- Series B, May 31, 2019, $30M — OrbiMed Advisors

## Investors

- OrbiMed Advisors (https://capitalatlas.ai/funds/orbimed-advisors) — Series B, Series C
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series C