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14 November 2017

Arcus arms itself with $107m

Immunotherapy developer Arcus Biosciences, backed by Stanford University, has raised series C funding from a GV-led consortium that included Celgene and Taiho.

Author: Thierry Heles, editor

Arcus Biosciences, a US-based cancer-focused biotechnology producer backed by Stanford University, raised $107m in series D capital yesterday from investors led by GV, the early-stage investment arm of internet and technology conglomerate Alphabet.

The round, which took the company's overall funding to $227m, also featured pharmaceutical firms Celgene and Taiho, the latter participating through its Taiho Ventures unit.

Wellington Management, EcoR1 Capital, BVF Partners, Decheng Capital, Hillhouse, Aisling Capital, Column Group, Foresite Capital, Invus Opportunities, Droia Oncology Ventures and entities affiliated with Leerink Partners also took part in the round.

Founded in 2015, Arcus Biosciences is working on cancer immunotherapies. It has two lead drug candidates in phase 1 clinical trials and another two antibodies are undergoing the process for an investigational new drug application.

Arcus will use the series D money to advance its product pipeline, including the lead candidates, and to push two additional treatments to the clinic.

GV led the company's $70m series B round in August 2016, investing together with Stanford University, Taiho Ventures, Droia Oncology Ventures and Invus.

Arcus had previously received $30m in series A funding from family and friends, which was later extended to $49.7m with commitments from Celgene, pharmaceutical company Novartis, Colum Group and Foresite in May 2015.

Terry Rosen, chief executive of Arcus Biosciences, said: “We are extremely pleased to add several outstanding investors with significant expertise in biotechnology to our investor group.

“We have been assembling a team of staff, investors, leadership and advisors with a highly aligned long-term vision to create, develop and commercialise innovative cancer immunotherapies that may offer a meaningful benefit to patients over existing treatments.

“These new investors share this vision, and we are thrilled to add their expertise, leadership and commitment to our team.”

– A version of this article first appeared on our sister site, Global Corporate Venturing.

Copyright Mawsonia Limited 2010. Please don´t cut articles from www.globaluniversityventuring.com or the PDF and redistribute by email or post to the web without written permission.

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