Revolution Medicines has secured $100 million in Series C financing that will be used to support the development of the company’s pipeline of drugs that target the RAS pathway, according to BioSpace on July 9, 2019. The company has been developing RMC-4630, a potent, orally bioavailable small molecule that selectively inhibits the activity of SHP2. Small molecule inhibitors of SHP2 can reduce tumorigenic effects. Essentially, Revolution Medicines allows for previously untargetable diseases to be targeted, and this investment will help them continue their work.
Revolution Medicines was founded by University of Illinois professor Dr. Martin Burke in 2014. Its purpose was to expand targeting possibilities in order to develop more effective drugs. This Series C financing round, supported by Boxer Capital of the Tavistock Group, Cormorant Capital, Deerfield Management, Fidelity Management & Research Company, Vivo Capital, and Biotechnology Value Fund, will allow for the advancement of drugs that aim at “frontier targets” in cancer. This includes a program that targets KRAS mutations, which were previously considered undruggable.
The company has been focused on oncology since its 2014 start. In April 2018, Revolution Medicines received $56 million Series B Venture Capital Investment. This EnterpriseWorks graduate will continue its discovery and research with RMC-4630 in order to outsmart cancer.
To learn more about this investment, click HERE.