Frontier Medicines Corporation announced that it will raise $99,999,997 in a round of funding on January 31, 2024. The company will issue 42,746,002 series C preferred stock at an issue price of $2.3394 per share. The shares will be convertible in common shares at a fixed conversion price at their original issue price.

The shares are issued at a par value of $0.0001 per share. The shares are cumulative, redeemable and dividend rate of 6% per annum. The round is raised at post-money valuation of $367,969,717.