Erasca, a San Diego, CA-based company dedicated to advancing scientific approaches to erase cancer, completed a $42m Series A financing.
The round was co-led by City Hill Ventures and Cormorant Asset Management, with participation from institutional and individual investors.
The company intends to use the funds to develop a new generation of oncology drugs intended to treat and cure cancer.
Founded in 2018 by Jonathan E. Lim, M.D., executive chairman and co-founder, and also led by Gary Yeung, CFA, Chief Business Officer, and Robert Shoemaker, Ph.D., Vice President of Biology, Erasca has multiple discovery programs underway for undisclosed targets that are biological drivers of cancer.
The company anticipates it will disclose more about these programs as it moves into human clinical studies. It is also pursuing additional opportunities for pipeline expansion through academic and biopharmaceutical collaborations.