Erasca is a San Diego–based precision oncology company founded in 2018 that advances multiple targeted cancer programs. The company pursues in-house drug discovery to develop precision therapies directed at undisclosed targets and expands its pipeline via academic and biopharmaceutical collaborations. Erasca has assembled a portfolio of potentially first‑in‑class and best‑in‑class assets aimed at significant unmet medical needs across multiple cancer types. The company will use the new financing to fund clinical development of multiple oncology programs, continue corporate development efforts, and further advance its in‑house discovery pipeline. Erasca has raised $300 million in total capital to date, including a Series B that has been extended to $236 million. Investors named in the announcement include ARCH Venture Partners, City Hill Ventures, Cormorant Asset Management, and new participants Partner Fund Management and OrbiMed. Erasca is focused on developing targeted therapies that shut down key cancer pathways. The company advances multiple in-house drug discovery programs directed at undisclosed targets and pursues in-licensing and collaborations to expand its pipeline. Management says it has assembled a proven team and world-class collaborators and has made substantial progress since commencing operations just 18 months ago. Erasca will use financing proceeds to support clinical development of multiple oncology programs and to further advance its discovery pipeline. Financially, the company has raised more than $260 million to date, including the newly announced round. Its stated mission is to "erase cancer" and it targets both potentially first-in-class and best-in-class assets to address unmet needs in oncology. Erasca is developing oncology therapeutics using computational and biological approaches to target core drivers of cancer. The company operates multiple discovery programs for undisclosed biological targets and pursues pipeline expansion through academic and biopharmaceutical collaborations. Its proprietary OPRA (Oncology Pattern Recognition Algorithm) AI platform leverages machine learning and large-scale datasets to elucidate tumor biology and prioritize therapeutic strategies, including single-agent and combination approaches. Erasca plans to use new funds to potentially in-license investigational compounds and accelerate OPRA’s buildout to drive discovery and development of next-generation oncology drugs. Financially, the company completed a Series A extension that brought total Series A proceeds to $64M. Erasca, founded in 2018 and based in San Diego, is focused on advancing scientific approaches to erase cancer by developing a new generation of oncology drugs. The company has multiple discovery programs underway targeting biological drivers of cancer, though the specific targets are undisclosed. Erasca intends to use its financing proceeds to advance drug development and move programs into human clinical studies. It anticipates disclosing more about those programs as it progresses into clinical trials. The company is also pursuing pipeline expansion through academic and biopharmaceutical collaborations. Leadership includes founder Jonathan E. Lim, M.D., with Gary Yeung, CFA, as Chief Business Officer and Robert Shoemaker, Ph.D., as Vice President of Biology.

Total raised

$278M

Funding rounds

4

Latest round

Series B

Latest activity

Aug 2020