BOSTON– Ikena Oncology, Inc. (“Ikena”), a clinical-stage biotechnology company that discovers and develops patient-directed, biomarker-driven cancer therapies, today announces the closing of $120 million in an oversubscribed Series B financing. The round was led and syndicated by Omega Funds and included participation from additional new investors: Fidelity Management & Research Company, LLC, Surveyor Capital (a Citadel company), Invus, Farallon Capital Management, BVF Partners, L.P., Cowen Healthcare Investments, Logos Capital and HealthCor Management. Existing investors Atlas Venture, OrbiMed, and Bristol Myers Squibb all participated in the round. Ikena intends to use the proceeds from this financing to advance its pipeline of targeted oncology therapies, including its novel development candidate TEAD inhibitor IK-930, and a new first-in-class preclinical program targeting KRAS signaling.
“This exceptional group of new investors is a welcome addition to our strong existing group of shareholders as we continue to advance and build Ikena’s portfolio of targeted oncology programs for a wide range of cancer types,” said Mark Manfredi, Ph.D., President and Chief Executive Officer of Ikena Oncology.
In connection with this financing, Otello Stampacchia, Ph.D., Managing Director of Omega Funds, will join Ikena’s Board of Directors.
Otello Stampacchia stated, “The rise of tumor profiling across many cancer types has rapidly increased demand for more precise and personalized treatments to improve both drug development and patient outcomes. With its portfolio of first-in-class, biomarker-driven therapies that target key cancer drivers, Ikena is uniquely positioned to have significant positive impact on cancer patients and build stakeholder value.”
Jefferies LLC acted as placement agent for the financing.
