Ideaya Biosciences, a South San Francisco, California-based oncology-focused biotechnology company, completed a $94m crossover Series B financing.
New investors, including BVF Partners L.P., Perceptive Advisors LLC, Nextech Invest Ltd., GV (formerly Google Ventures), Roche Venture Fund, 6 Dimensions Capital, Boxer Capital of the Tavistock Group, and Driehaus Capital Management, LLC, joined existing investors, including 5AM Ventures, Canaan Partners, Celgene Corporation, WuXi Healthcare Ventures, and Alexandria Venture Investments, in the financing.
Coincident with the close of the Series B financing, Thilo Schroeder, Ph.D., partner at Nextech Invest Ltd., and Edward Hu, M.B.A., founding partner of 6 Dimensions Capital, joined the company’s board of directors. Kanishka Pothula, managing director at BVF Partners, Vineeta Agarwala, M.D., Ph.D., venture partner at GV, and Nisha Marathe, Ph.D., investment manager at Roche Venture Fund, joined as board observers.
The company will use the funds to advance its pipeline with a goal of initiating multiple clinical studies in 2019.
Led by Yujiro S. Hata, chief executive officer, Ideaya is pioneering the next generation of biomarker-enabled synthetic lethality therapies for genetically defined patient populations and advancing an immuno-oncology pipeline targeting immuno-metabolism and innate immunity.