BioCentury
ARTICLE | Product Development

Rain to advance growing precision oncology pipeline with $63M series B

September 4, 2020 11:44 PM UTC

A crossover-heavy $63 million series B round will provide Rain with enough money to bring what it says is its new lead program — a newly licensed cancer therapy from Daiichi Sankyo — through clinical proof of concept. 

Boxer Capital led Thursday’s round the day after Bay Area-based Rain Therapeutics Inc. gained exclusive, worldwide rights to RAIN-32 (formerly milademetan), an oral small molecule MDM2 inhibitor, from Daiichi Sankyo Co. Ltd. (Tokyo:4568). Deal terms were undisclosed. ...