8:05 AM
 | 
Apr 27, 2018
 |  BioCentury  |  Finance

Revolution revamp

How Revolution’s SHP-2 inhibitor persuaded Nextech to back $56 million series B

Revolution Medicines Inc.’s pivot to cancer and preclinical proof-of-concept data for its lead program convinced Nextech Invest to lead the company’s $56 million series B round.

Fellow new investors Casdin Capital and Schroder Adveq and existing investors Third Rock Ventures and The Column Group also participated in the round, which closed on April 24.

“We learned through the network they have that they emerged with a very compelling oncology program. Knowing about the target and its potential role in cancer, we sought the relationship last year,” said Nextech’s Thilo Schroeder.

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