Revolution Medicines, Inc., a Redwood City, Calif.-based clinical-stage leader in the discovery and development of novel small molecule inhibitors of frontier oncology targets within notorious pathways, closed a $100m Series C equity financing.
The round ws led by Boxer Capital of the Tavistock Group, joined by Cormorant Capital, Deerfield Management, Fidelity Management & Research Company, Vivo Capital and Biotechnology Value Fund, as well as all Series B investors, including Nextech Invest, Schroder Adveq, The Column Group, Third Rock Ventures and Casdin Capital.
Proceeds will support continued advancement of the company’s pipeline, which includes programs addressing elusive targets within the RAS pathway such as KRASG12C(GTP) and other specific tumorigenic mutants of RAS.
Led by Mark A. Goldsmith, M.D., Ph.D., president and chief executive officer, Revolution Medicines is advancing RMC-4630, a potent, orally bioavailable small molecule that selectively inhibits the activity of SHP2, a protein that plays a central role in modulating cell growth signaling activity through the RAS pathway. RMC-4630, which is the focus of an exclusive global research, development and commercialization agreement with Sanofi, is currently being evaluated in a Phase 1/2 clinical program for a range of tumor types featuring specific oncogenic mutations.
Additionally, the company is developing a broad portfolio of inhibitors of other key frontier oncology targets within the notorious RAS pathway, as well as the related PI3K/AKT/mTOR cascade. These include multiple mutant RAS proteins, with its KRASG12C(GTP) program currently in lead optimization; 4EBP1/mTORC1, with a development candidate, RMC-5552, currently advancing into IND-enabling studies; and SOS1, a discovery-stage program.