TESARO Secures $101M in Series B Financing
TESARO, Inc., a Waltham, Massachusetts-based oncology-focused biopharmaceutical company, has secured $101m in Series B financing.
The round was led by Kleiner Perkins Caufield & Byers, with participation from founding investor New Enterprise Associates and new backers InterWest Partners, T. Rowe Price, Pappas Ventures, Oracle Partners, Deerfield Management and Leerink Swann.
This funding will help TESARO advance and expand its cancer product portfolio including Rolapitant, a Phase 3-ready neurokinin-1 (NK1) receptor antagonist being developed for the prevention of chemotherapy-induced nausea and vomiting (CINV), and small molecule inhibitors of Anaplastic Lymphoma Kinase (ALK).
In conjunction with the financing, Beth Seidenberg, M.D., Partner, KPCB and Arnold Oronsky, Ph.D., General Partner, InterWest Partners have joined TESARO’s Board of Directors.
The company has co-founded by former executives of MGI PHARMA, an oncology and acute-care focused biopharmaceutical company that was acquired by Eisai Co., Ltd. in 2008 for $3.9bn, and is led by CEO Lonnie Moulder.
Related News: 26/05/2010: Tesaro Secures $60M in Start up Funding