Erasca: Series B Funding Round Extended To $236 Million

By Annie Baker ● Sep 2, 2020
  • Erasca — a company that is on a mission to erase cancer — announced recently that it completed a $36 million extension of its Series B funding round

Erasca — a company that is on a mission to erase cancer — announced recently that it completed a $36 million extension of its Series B funding round. Including this funding round, the company has raised a total of $236 million. New investors in this round include Partner Fund Management and OrbiMed.

This funding round brings the total capital raised by the company to $300 million. And Erasca will use the funding to finance the clinical development of multiple promising oncology programs, continue driving corporate development efforts, and further advancing the company’s in-house drug discovery pipeline.

The company also assembled a robust pipeline of precision therapies directed at undisclosed targets through in-house drug discovery as well as active pipeline expansion via collaborations with renowned academic and biopharmaceutical organizations.

KEY QUOTES:

“Erasca is honored to welcome Partner Fund Management and OrbiMed as partners in our bold mission of erasing cancer. We are doing everything we can to help patients live longer and healthier lives. Because cancer is such a formidable foe, we are grateful to have the support of our new and existing investors to tackle this terrible disease.”

— Jonathan E. Lim, M.D., Erasca’s chairman, CEO and co-founder

“Erasca has demonstrated impressive progress in less than two years since its founding. The company’s portfolio of potentially first-in-class and best-in-class assets will target significant unmet medical needs across multiple cancer types. We are excited to support this team and its programs, as Erasca strives to deliver practice-changing precision oncology therapies.”

— Mark Karvosky, a partner at Partner Fund Management