Erasca to Eradicate Cancer with $42M Fundraising

Erasca, a San Diego, CA-based company which is dedicated to advancing the scientific approaches to erase cancer, has now secured $42 Million in the funding round of Series A. The round was led by the City Hell ventures and Cormorant Asset Management, with collaboration from the individual and institutional investors.

the company which is founded by the Jonathan E Lim in the year 2018. Erasca has multiple discovery programs underway for the undisclosed targets that are some of the biological drivers of cancer. The company anticipates it will disclose more about these programs as it moves into the human clinical studies. It is also pursuing some of the more additional opportunities for the pipeline expansion with the academic and biopharmaceutical collaborations.

“Cancer is a pervasive disease that is misbehaving the people life nearly everyone I know in some way. Some of the more individuals continue to be seriously afflicted and in need of healing beyond what can be provided by some of the more available treatments,” said Jonathan E. Lim, M.D., Erasca's executive co-founder and chairman. “Erasca was borne out with some of an aim and mission to address this with some of the more significant patient need and, one day, erase cancer. We recognize that this is a very great and ambitious goal, as cancer is a formidable foe. But no mission worth taking is ever going to be so much easy.”

“Founded on exciting with some of the new discoveries around key molecular drivers of cancer, and having assembled a team of executives with a legacy of multiple prior successes, Erasca is the company that stands an excellent chance of deftly overcoming some of the more multiple obstacles along this exciting, yet long, journey of bringing a breakthrough starting from medicine to patients,” said Bihua Chen, Portfolio Manager, Cormorant Asset Management. “Tackling a mission this large requires a combination of passion for the patient and with some of the strong business acumen. Jonathan's background as a physician and biotech company leader who has led some of the more successful companies, along with the outstanding team he has assembled, position Erasca well in executing on its mission.”

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