Tesaro Secures $60M in Start up Funding

TESARO, Inc., a Boston, Massachusetts-based oncology-focused biopharmaceutical company focused on developing and commercializing new therapeutics and supportive care agents, has secured $60m in start-up funding.

The funds will be used to acquire, develop and commercialize cancer therapeutics and supportive care products.

Participants in a $20m Series A financing included New Enterprise Associates (NEA) and TESARO management. Additionally, NEA has reserved $40m to support the growth of the company.

TESARO is co-founded by former executives of MGI PHARMA, an oncology and acute-care focused specialty biopharmaceutical company that was acquired by Eisai Co., Ltd. in 2008 for $3.9 billion.

Its team includes Lonnie Moulder, Chief Executive Officer; Mary Lynne Hedley, Ph.D., President and Chief Scientific Officer; and Rick Rodgers, Executive Vice President and Chief Financial Officer.



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