Oric Pharmaceuticals, a South San Francisco, Calif.-based clinical-stage oncology company focused on discovery and development of novel therapies against treatment-resistant cancers, completed a $50m Series C financing.
This financing brings the total equity capital the company has raised to date to over $119m.
Backers included Fidelity Management & Research Company, Trinitas Capital, Taiho Ventures, NS Investment, The Column Group, Topspin Fund, OrbiMed, Memorial Sloan Kettering Cancer Center, EcoR1 Capital, Kravis Investment Partners, and Foresite Capital.
Led by Richard Heyman, Ph.D., CEO, Valeria Fantin, Ph.D., CSO, and Leonard Reyno, M.D., CMO, Oric is a clinical-stage oncology company founded by oncology experts Charles Sawyers, M.D., and Scott Lowe, Ph.D., who are on the faculty at Memorial Sloan Kettering Cancer Center.
Oric intends to use the funds to support clinical studies of its lead asset, ORIC-101. ORIC-101 is a potent small molecule inhibitor of the glucocorticoid receptor (GR) and the subject of an ongoing Phase 1 study. The company plans to further pursue clinical development of ORIC-101 in patients with treatment-resistant solid tumors, in combination with immuno-oncology treatments and with chemotherapy. The investment also will support research and pipeline programs targeting mechanisms of resistance in cancer.