Erasca Completes $36M Series B Extension

The company has raised a total capital of $300 million to date. Erasca intends to use the funds to finance the clinical development of multiple promising oncology programs, continue driving corporate development efforts, and further advance the company's in-house drug discovery pipeline.

FREMONT, CA: Erasca, a company whose mission is to erase cancer, completed the $36 million extension of its Series B financing round. This brings the total round to $236 million. New investors include OrbiMed and Partner Fund Management.

The company has raised a total capital of $300 million to date. Erasca intends to use the funds to finance the clinical development of multiple promising oncology programs, continue driving corporate development efforts, and further advance the company's in-house drug discovery pipeline.

"Erasca is honored to welcome Partner Fund Management and OrbiMed as partners in our bold mission of erasing cancer," stated Jonathan E. Lim, M.D., Erasca's chairman, CEO and co-founder. "We are doing everything we can to help patients live longer and healthier lives. Because cancer is such a formidable foe, we are grateful to have the support of our new and existing investors to tackle this terrible disease."

The company has assembled a resilient pipeline of precision therapies directed at undisclosed targets through in-house drug discovery and active pipeline expansion through collaborations with world-class academic and biopharmaceutical organizations.

"Erasca has demonstrated impressive progress in less than two years since its founding," added Mark Karvosky, a partner at Partner Fund Management. "The company's portfolio of potentially first-in-class and best-in-class assets will target significant unmet medical needs across multiple cancer types. We are excited to support this team and its programs, as Erasca strives to deliver practice-changing precision oncology therapies."