Nuvation Bio, Inc., a NYC-based stealth biotechnology company developing proprietary therapies focused on oncology, closed a $275 million Series A financing.
The round was led, structured and syndicated by Omega Funds and included participation from Aisling Capital, Altitude Life Science Ventures, The Baupost Group, Boxer Capital of the Tavistock Group, EDBI (global Asian-based Investor), ECOR1 Capital, Fidelity Management and Research Company, Pavilion Capital, Perceptive Advisors, Redmile Group, Surveyor Capital (a Citadel Company) and other institutional investors.
Joining Founder David Hung, M.D., on Nuvation Bio’s Board of Directors are Michelle Doig, Richard Lim and Otello Stampacchia of Omega Funds, as well as former Medivation directors Tony Vernon and Kim Blickenstaff.
The company intends to use the funds to expand its development activities and advance a number of its oncology programs.
Founded in 2018 by David Hung, M.D., President and Chief Executive Officer, Nuvation Bio is a biopharmaceutical company currently operating in stealth mode that is focused on the development of next generation therapies that will target the foremost unmet needs in oncology. Its proprietary portfolio includes seven novel and mechanistically distinct oncology programs, each with multiple drug development candidates.
The executive team is comprised of former senior leaders at Medivation including Michele D. Bronson, Ph.D., Melanie Morrison, and Thomas Templeman, Ph.D., who will serve as Nuvation’s Chief Development Officer, Vice President of Clinical Operations and Data Management and Senior Vice President of Pharmaceutical Operations and Quality, respectively.
They are joined by new senior leaders including Chief Scientific Officer, Gary Hattersley, Ph.D., Chief Medical Officer, Sergey Yurasov, M.D., Ph.D., and Senior Vice President of Human Resources, Stacy Markel.