<article>Nuvation Bio, a US-based oncology company, has closed $275 million in a Series A funding round led by Omega Funds, a global life sciences investment firm.</article>

Nuvation Bio, a US-based oncology company, has closed $275 million in a Series A funding round led by Omega Funds, a global life sciences investment firm.
Temasek-backed Pavilion Capital and EDBI, the investment arm of Singapore&#8217;s Economic Development Board, also joined the round.
The other participating investors include Aisling Capital, Altitude Life Science Ventures, The Baupost Group, Boxer Capital of the Tavistock Group, ECOR1 Capital, Fidelity Management and Research Company, Perceptive Advisors, Redmile Group and Surveyor Capital.
According to a statement, Nuvation Bio plans to use the capital to expand its development activities and advance its oncology programmes.
Nuvation Bio was founded by David Hung, who previously founded and served as president and CEO of Medivation, which was sold to Pfizer for $14.3 billion in 2016.
Founded in 2018, Nuvation focuses on developing next-generation therapies targeting unmet needs in oncology. Its portfolio includes seven distinct oncology programmes, each with multiple drug development candidates.
&#8220;The breadth and depth of Nuvation Bio&#8217;s innovative pipeline demands a large initial investment,&#8221; said Otello Stampacchia, Founder and Managing Director of Omega Funds. &#8220;By syndicating one of the largest-ever Series A biotech financings, David and his exceptional team are well-positioned to advance Nuvation Bio&#8217;s deep portfolio of therapies focused on dramatically improving the standard of care for those living with cancer.&#8221;
Michelle Doig, Richard Lim and Otello Stampacchia of Omega Funds will join Hung on Nuvation Bio&#8217;s board. Former Medivation directors Tony Vernon and Kim Blickenstaff will also join the board.

Nuvation Bio plans to use the capital to expand its development activities and advance its oncology programmes, per a statement

EDBI, Pavilion Capital backed US-based Nuvation Bio's $275m Series A

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EDBI, Pavilion Capital backed US-based Nuvation Bio's $275m Series A

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