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Nuvalent Completes $135 Million Series B Financing To Advance Portfolio Of Novel Precisely Targeted Kinase Inhibitors For Treatment-Resistant Cancers

TAKEN PRIVATEMay 11, 2021

Amount Raised

$135 Million

Round Type

Series B

CambridgeBiotechnologyHealthcareHealth CareTherapeuticsPharmaceutical

Description

Nuvalent, Inc., a biotechnology company creating precisely targeted therapies for clinically proven kinase targets in cancer, today announced the completion of a $135 million Series B financing. The round was led by Bain Capital Life Sciences with participation from sole founding investor, Deerfield Management, and additional new investors Fidelity Management and Research Company LLC, Wellington Management Company, Viking Global Investors, Janus Henderson Investors, Avoro Capital Advisors, Boxer Capital of Tavistock Group, Venrock Healthcare Capital Partners, Fairmount Funds Management LLC, Driehaus Capital Management LLC, and Logos Capital. Andrew Hack, M.D., Ph.D., a Managing Director of Bain Capital Life Sciences, will join the Nuvalent Board of Directors.

Company Information

Company

Nuvalent

Location

Cambridge, Massachusetts, United States

About

Nuvalent, Inc. is a clinical-stage biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer. The company aims to overcome the limitations of existing therapies for clinically proven kinase targets. They develop innovative small molecules to address various cancer challenges. Nuvalent is advancing a robust pipeline with investigational candidates for different types of cancer.

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Funding Insights

What this usually means
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach

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