REVOLUTION Medicines Raises Additional $25 Million in Series A Financing
-- Biotechnology veteran Larry Lasky, Ph.D. joins Company’s Board of Directors --
REDWOOD CITY, Calif.--(BUSINESS WIRE)--REVOLUTION Medicines, Inc., a company focused on frontier cancer targets and drug discovery inspired by nature’s lessons, today announced that it has raised $25 million in a Series A extension financing. The Column Group, a leading life sciences investment firm focused on science-driven companies, joined founding investor, Third Rock Ventures, in the ongoing funding of the company. Proceeds from this expanded round will support the company as it continues advancing its discovery programs toward clinical development. Larry Lasky, Ph.D., partner at The Column Group, has joined the company’s Board of Directors.
“This financing brings a second top-tier group to REVOLUTION Medicines and reflects the excellent progress the company has made in advancing multiple oncology drug discovery programs,” said Mark A. Goldsmith, M.D., Ph.D., president and chief executive officer of REVOLUTION Medicines. “I am excited that Dr. Lasky has joined our board of directors and look forward to working with him. His extensive background and track record in oncology drug discovery, coupled with the recent expansion of our founder and senior advisor groups that contributes additional oncology expertise, mark our deepening commitment to bringing innovative drugs forward for cancer patients.”
Dr. Lasky brings over 30 years of experience in the biotechnology industry to REVOLUTION Medicines. From 2008-2014, Dr. Lasky was a partner at US Venture Partners, and from 2002-2008, he served as general partner at Latterell Venture Partners. Prior to that, Dr. Lasky was a scientist at Genentech for 20 years, where he worked in various disciplines including vaccinology, immunology, stem cell biology, cellular signaling mechanisms and monoclonal antibody therapy of tumors, and was also named Genentech Fellow, the company’s highest scientific position. Dr. Lasky has been a lecturer at the University of California, Berkeley’s Haas School of Business and currently sits on the boards of Carmot Therapeutics, eFFECTOR Therapeutics, Ribon Therapeutics, ORIC Pharmaceuticals, Peloton Therapeutics and OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED).
“There remain many unserved needs in oncology, including continued demand for new drugs directed to emerging targets in cancer cells and the immune system,” said Dr. Lasky. “REVOLUTION Medicines is taking a truly innovative approach to drug discovery through a special combination of biology and chemistry seen through the lens of nature. I look forward to helping the company realize the full potential of its product engine and pipeline.”
About REVOLUTION Medicines
The mission of REVOLUTION Medicines is to discover and develop new drugs directed toward frontier oncology targets for cancer patients. The company draws inspiration from nature’s lessons including natural products that are inherently rich with biological function. REVOLUTION Medicines deploys an innovative toolkit including REVBLOCKS™, an integrated suite of modular synthesis methodologies applied to simple chemical “building blocks,” and the REVEAL™ computational platform, which uses evolution’s lessons to inform selection of chemical scaffolds and guide drug design for non-classical drug targets. Headquartered in Redwood City, Calif. at the intersection of Silicon Valley and the birthplace of biotechnology, REVOLUTION Medicines is a private company financed by top-tier investors Third Rock Ventures and The Column Group. For more information, please visit www.revolutionmedicines.com.
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Katie Engleman, 910-509-3977