Olema Oncology, a San Francisco, CA-based biopharmaceutical company developing innovative targeted therapies for women’s cancers, closed a $54m Series B financing.
The round was co-led by BVF Partners L.P., Logos Capital and Janus Henderson Investors, with participation from new investors Cormorant Asset Management, RA Capital Management, Wellington Management Company, Surveyor Capital (a Citadel company), Venrock Healthcare Capital Partners, and Foresite Capital. Graham Walmsley, M.D., Ph.D., Managing Partner at Logos Capital, has joined Olema’s Board of Directors.
The company intends to use the funds to advance OP-1250, its lead program in breast cancer, into Phase 1/2 clinical development and expand ongoing research and development activities.
Led by President and Chief Executive Officer, Olema Oncology is a biopharmaceutical company developing innovative targeted therapies for women’s cancers. The company’s lead program, OP-1250, a potential best-in-class complete estrogen receptor antagonist (CERAN), is in development to treat estrogen receptor-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. The company expects to initiate a Phase 1/2 dose-escalation and expansion clinical trial of OP-1250 in the second half of 2020. The trial will evaluate OP-1250 as a single agent in women with estrogen receptor-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) recurrent, locally advanced or metastatic breast cancer, followed by studies of OP-1250 in combination with other targeted breast cancer therapies.