David Hung Launches Start-Up Nuvation With Old Medivation Team And $275m

The former Medivation CEO, after a brief detour heading up Axovant, is returning to oncology, but the new company is keeping details about the seven cancer drug programs in its pipeline under wraps.

Start-up Nuvation has seven cancer drug programs but intends to expand its pipeline. • Source: Shutterstock

Former Medivation Inc. CEO David Hung is returning to oncology with the new cancer drug company Nuvation Bio Inc., which has raised $275m in series A venture capital and reassembled members of the team that developed and launched the prostate cancer blockbuster Xtandi (enzalutamide) before selling Medivation to Pfizer Inc. for $14.3bn in 2016.

With offices in New York and San Francisco, Nuvation describes itself as a “stealth biotechnology company” as it keeps the...