Revolution Medicines Seeks $100 Million IPO

EnterpriseWorks graduate Revolution Medicines filed for an initial public offering of $100 million on January 17, 2020. The company applied for the Nasdaq stock symbol RVMD.

This filing comes shortly after Revolution Medicines presented preliminary data from their phase 1 clinical trial which is being conducted under an agreement with Sanofi.

Revolution Medicines has a history of securing funds to continue their research to develop more effective drugs that aim to target diseases that have previously been impossible to target. In July 2019, the company secured $100 million to target the RAS pathway; in April 2018, the company raised $56 million to continue their SHP2 program; and in early 2015, Revolution Medicines got a kick start with a $45 million investment from Third Rock Ventures.

The company started in 2014 in the Research Park incubator, EnterpriseWorks, under the name Midasyn.  There, they developed technology based on research conducted at the University of Illinois Urbana-Champaign by the company’s founder Dr. Martin Burke. This technology focused on targeting molecules that have been inaccessible for drug development. Essentially, Revolution Medicines set out to drug the undruggable. Since their start, Revolution Medicines has evolved into a precision-oncology company.

Learn more about Revolution Medicines by visiting their website here.