The company unveiled today raised 275 million US dollars in round a financing

Today, a biotech company named nuvation bio officially appeared in the industry, breaking away from the stealth mode, and announced the completion of round a financing of US $275 million This is a new and cutting-edge company dedicated to the development of cancer drugs Why did it attract such a huge investment when it came out? Nuvation bio was founded by Dr David hung, an industry veteran Dr hung was president and CEO of medivation, which was sold to Pfizer in 2016 for $14.3 billion The biggest highlight of the acquisition is the best-selling drug enzalutamide (xtandi), which was approved in 2012 for the treatment of prostate cancer with no response to chemotherapy Dr David Hung said he was proud of the achievements of medivation, but if he had more time, he believed that the company could do more Dr Hung said that the goal of nuvation bio is to expand the work that started with medivation The new company has many former medivation employees Founder, President and CEO of nuvation bio (photo source: nuvation bio website) At the current stage, nuvation bio did not disclose more information about the target of tumor drugs and the company's R & D pipeline, only said that "this round of funds will enable the company to expand development activities and promote a series of tumor R & D projects" More specifically, it is "focusing on the development of next-generation therapy, which will meet the most important unfinished needs in oncology Nuvation bio's proprietary product portfolio includes 7 novel and radically different oncology projects, each of which has multiple candidate drugs under research" Dr Otello Stampacchia, founder and managing director of Omega funds, a representative of the investor, said: "the breadth and depth of the innovation product line of nuvation bio requires a lot of initial investment By teaming up with one of the largest a rounds of financing in the field of biotechnology in history, David and his excellent team can advance nuvation bio's broad therapeutic portfolio, focusing on the development of innovative products that can significantly improve cancer care standards " This round of financing is led by Omega funds, aviation capital, altitude life science ventures, Baupost group, boxer capital of the Tavistock group, EDBI (Global Asian investor), ecor1 capital, Fidelity Management and research company, pavilion capital, perceptive advisors, redmile group, surveyor Capital and other investors.