Oncology Startup Nuvation Gets $275 Million
New York based Nuvation Bio, Inc. announced it received new funding for its oncology based proprietary therapies.
The funding closed at $275 million in oversubscribed Series A financing. Omega Funds led the funding, with participation from a host of biotech focused investors including Altitude Life Science Ventures, Boxer Capital, Aisling Capital, Baupost Group, EDBI, ECOR1 Capital, Fidelity Management and Research Company, Pavilion Capital, Perceptive Advisors, Redmile Group, Surveyor Capital and others.
This funding will help the startup to expand its development activities and advance a number or its current oncology programs.
In addition to the funding news, Nuvation also announced that Michelle Doig, Richard Lim and Otello Stampacchia of Omega Funds will be joining the company’s board.
Nuvation was founded in 2004 by industry veteran David Hung, M.D., who previously founded and served as President and CEO of Medivation, Inc., which was sold to Pfizer, Inc. for $14.3 billion in 2016.