Erasca, a company whose mission is to erase cancer, has announced the completion of a US$200 million Series B financing round co-led by ARCH Venture Partners and Cormorant Asset Management. New investors participating in this financing include global Singapore-based investor EDBI, Invus, Terra Magnum Capital Partners and other private and strategic investors. Existing investors City Hill Ventures, Colt Ventures and LifeSci Venture Partners also participated meaningfully in the round. This financing brings the total capital raised by the company to more than US$260 million. Erasca will use the proceeds to support the clinical development of multiple promising oncology programs and further advance the company’s in-house drug discovery pipeline.
Latham & Watkins LLP represented Erasca in the transaction with a San Diego-based corporate team led by partners Cheston Larson and Matt Bush with counsel Christopher Geissinger and associate Evan Youngstrom. Advice was also provided on CFIUS matters by Washington, D.C. partner Jim Barker.