Olema aims to deploy $54M round to carve its niche in breast cancer

Olema’s plans for its oral selective estrogen receptor degrader attracted a crossover-laden syndicate to the San Francisco company’s $54 million series B round. Olema plans to take the therapy, which is administered daily, into a Phase I/II trial this year for breast cancer.

BVF Partners, Logos Capital and Janus Henderson Investors co-led the oversubscribed round, which closed on Wednesday and included new investors Cormorant Asset Management, RA Capital Management, Wellington Management Co., Surveyor Capital, Venrock Healthcare Capital Partners and Foresite Capital Management...