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Finance Watch: Among Multiple Mega-Rounds, Revolution Raises $100m For RAS Programs

 
• By Mandy Jackson

Private Company Edition: Revolution Medicines follows its Sanofi partnership and Warp Drive Bio buyout with a series C venture capital round to fund its RAS pathway inhibitors in cancer. The financing came during a boom in $100m-plus VC financings, including BioNTech's $325m series B.

Finance Watch

Revolution Medicines Inc. has been on a roll during the past year after entering into a partnership with Sanofi to develop its SHP2 inhibitor, buying Warp Drive Bio Inc. to bolster its cancer drug discovery capabilities and raising a $100m series C venture capital round to accelerate its development of small molecules that target various mutations in the RAS pathway downstream from SHP2.

The series C financing disclosed on 9 July was one of four $100m-plus VC funding rounds announced by biopharmaceutical companies in a two-day stretch, including a $325m series B round...

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