Guardant Health, a health tech company creating non-invasive cancer genomic sequencing, has completed a $100 million Series D investment round. The capital raise includes equity financing and a term loan facility. OrbiMed led the round, with participation from existing investors Khosla Ventures, Sequoia Capital, Lightspeed Venture Partners, Pejman Mar, Formation 8, Heritage Group and others. The company had already raised nearly $100 million to date prior to this round. Helmy Eltoukhy, Guardant Health CEO, said, “Genomic technologies are on the cusp of fundamentally changing cancer care. As new targeted cancer therapies emerge, our platform becomes that much more powerful. Oncologists already recognize our value; increasingly, investors do as well. This new funding is a strong vote of confidence in our technology, science, commercial, and reimbursement operations from one of the most sophisticated healthcare investors in the world. We will use it to help as many patients as we can to proactively combat cancer.”
C4 Therapeutics, which is developing treatments in the field of targeted protein degradation, has launched from Dana-Farber Cancer Institute with a $73 million Series A financing round. “We are building a word-class team of pioneers in the field of targeted protein degradation who are dedicated to our mission of developing a new class of therapeutics that will have a profound effect on many diseases,” said Marc Cohen, Co-founder and Executive Chairman of C4 Therapeutics. “The use of Degronimids as a strategy for targeting traditionally undruggable proteins and overcoming resistance is extremely promising. By removing the need for ongoing target inhibition from the therapeutic equation, TPD therapeutics represent a new paradigm in drug development. C4 is a company that will develop many drugs over time in proprietary and partnered development programs.”
NextCure, a biopharma company looking to discover and develop new immune-oncology products, has raised a $67 million Series A financing round. Canaan Partners Lilly Asia Ventures, OrbiMed Advisors, Pfizer Inc. and Sofinnova Venture and Alexandria Venture Investments all participated in the round. “The NextCure management team is honored to once again collaborate with Dr. Chen and we are gratified by the support of our Series A investors in funding our ambitious target discovery and product development plans,” said co-founder Mr. Michael Richman. “The Company has begun recruiting scientists and will commence operations in the coming months.”
Benvenue Medical, a developer of minimally invasive solutions for spine repair, has completed a $60 million round of financing. The funding is a combination of $23 million in equity and $37 million in debt. Equity financing was provided by DeNovo Ventures, Domain Associates, Esquilime Partners, InterWest Partners, Technology Partners and Versant Ventures, while the debt provider was CRG. “We believe the large investment in our company is due to the tremendous physician interest in our products and Luna in particular as an important advancement in minimally invasive spinal fusion,” said Robert K. Weigle, CEO of Benvenue Medical.