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Revolution Medicines Raises $100M in Series C Round

NEW YORK – Revolution Medicines today said that it has raised $100 million in a Series C financing round to support its pipeline of oncology drugs focused on specific pathways.

The Redwood City, California-based firm is working on multiple programs directed toward inhibiting the oncogenic actions of a broad range of mutants within the RAS protein family and across multiple RAS isoforms. One of its programs focuses on KRASG12C(GTP), which the firm said has been shown to drive multiple cancer types including lung, colorectal, endometrial and pancreatic cancers, among others.

Revolution Medicine's lead drug candidate, RMC-4630, is a small molecule that selectively inhibits the activity of SHP2, a protein that plays a central role in modulating cell growth signaling activity through the RAS pathway. That drug candidate is being developed in partnership with Sanofi and is currently in Phase I/II studies for a range of tumor types featuring specific oncogenic mutations, the firm said.

The financing round was led by Boxer Capital of the Tavistock Group and included funding from Cormorant Capital, Deerfield Management, Fidelity Management & Research Company, Vivo Capital, and Biotechnology Value Fund. In addition, several investors from the firm's Series B round, including Nextech Invest, Schroder Adveq, The Column Group, Third Rock Ventures, and Casdin Capital also participated in the latest financing round.

Revolution Medicines recently completed the integration of the oncology assets of Warp Drive Bio following its acquisition of that firm late last year. It also recently sold Warp Drive's antibiotic-related genome mining platform to Ginkgo Bioworks in order to maintain its focus specifically on oncology.