Erasca, a San Diego, CA-based developer of new scientific approaches to erase cancer, closed an extension to its Series A financing round, bringing the total raised to $64m.
– Arch Venture Partners,
– Andreessen Horowitz,
– Reneo Capital, and
– other private and strategic investors.
The company intends to use the funds to expand its efforts to potentially in-license new investigational compounds in development, while also accelerating the buildout of its artificial intelligence (AI) platform that will drive discovery and development of a new generation of oncology drugs designed to cure cancer.
Founded in 2018 and led by Jonathan E. Lim, M.D., executive chairman and co-founder, Erasca has multiple discovery programs underway for undisclosed targets that are biological drivers of cancer. The company is advancing multiple programs targeting biological drivers of cancer and are pursuing additional pipeline expansion opportunities through academic and biopharmaceutical collaborations.
Its proprietary artificial intelligence drug discovery platform, OPRA (Oncology Pattern Recognition Algorithm), leverages advanced computational tools like machine learning to accelerate drug discovery by elucidating novel tumor biology and innovative strategies that shut down key cancer pathways, both with single agent and combination approaches. Opra analyzes large-scale data sets, generated in-house and by collaborators, to provide insights that focus scientists on the most promising strategies to tackle essential oncogenes within the vast landscape of cancer biology.