Revolution Medicines, EnterpriseWorks Graduate, Went Public

Categories : Investments, Research Park
Posted on: February 13, 2020

Revolution Medicines is publicly traded as of February 12, 2020. The EnterpriseWorks graduate filed its initial public offering on January 17 for $100 million. According to Nasdaq on February 11, 2020, Revolution Medicines raised its proposed deal size to $231 million by offering over 10 million shares between $16 and $17.

The company raised $238 million when the stock opened at $17 per share on February 12. It  is listed on the Nasdaq under the symbol RVMD.

Revolution Medicines was founded at the University of Illinois Urbana-Champaign by researchers Mark Goldsmith, David Pompliano, and  Martin Burke. Burke was a professor of chemistry at the University of Illinois Urbana-Champaign at the time of founding the company in 2015. In addition to his affiliations with the Beckman Institute, Carl R. Woese Institute for Genomic Biology, and the Biochemistry department, Burke is now the Associate Dean for Research and Professor at the Carle Illinois College of Medicine. He serves as the scientific advisory board chairman for Revolution Medicines, while Goldsmith serves as the president, CEO and board director.

Revolution Medicines is a “clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive frontier targets within notorious growth and survival pathways, with particular emphasis on RAS and mTOR signaling pathways.” The company graduated from EnterpriseWorks in 2015, and it announced in July 2019 that it had raised $100 million in series C financing to advance drugs aimed at “frontier targets” in cancer. Currently, Revolution Medicines has raised $232 million from multiple equity financing rounds.