Repare Therapeutics Secures $82.5 Million Series B Financing to Advance Synthetic Lethality-Based Cancer Therapies

On September 5, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that biotechnology and pharmaceutical company Repare Therapeutics (“Repare”) announced the completion of an $82.5 million Series B financing round.

The financing round was led by Cowen Healthcare Investments (Cowen), with participation from OrbiMed, Redmile, BVF Partners, Logos Capital, Versant Ventures, MPM Capital, Fonds de solidarité FTQ, and BDC Capital. Additionally, Kevin Raidy, Executive Partner at Cowen, and David Bonita, Partner at OrbiMed, will join the board of directors of Repare Therapeutics.

Repare Therapeutics will use the proceeds from this financing round to develop synthetic lethality cancer therapies and advance the clinical trials of its drug candidates.

Synthetic lethality refers to the phenomenon where simultaneous inactivation of two non-lethal genes leads to cell death. If specific inactivated genes are identified in tumors, pharmacological inhibition of their synthetic lethal partner genes can selectively kill cancer cells without harming other healthy cells. Compared with traditional anticancer therapies, such approaches exhibit lower toxicity and significant efficacy, representing a new direction in anticancer drug research.

It is reported that Repare Therapeutics has completed two rounds of financing, raising a total of $150 million. Notably, the company closed its $68 million Series A financing in June 2017, led by Versant Ventures and MPM BioImpact.

Repare Therapeutics, founded in 2016 and headquartered in Quebec, Canada, is a biotechnology and specialty pharmaceutical company. The company primarily develops novel precision oncology drugs for patients based on targeted technologies. Repare’s drug R&D team possesses expertise in cell biology, including DNA repair and synthetic lethality.

Repare Therapeutics has developed a cancer cell gene screening platform by integrating high-throughput screening (HTS) technology with the concept of synthetic lethality. Leveraging CRISPR gene-editing technology, along with expertise in high-resolution protein crystallography, computational biology, and clinical informatics, this platform enables the rapid identification of small molecules suitable for clinical research.

High-throughput screening (HTS) technology is based on molecular- and cellular-level experimental methods, utilizes automated systems to execute experimental procedures, and employs computer-based analysis to process experimental data. It is characterized by miniaturization, high speed, sensitivity, and accuracy. This technology enables the screening of a large volume of valuable biological information in a single experiment.

Currently, Repare Therapeutics is advancing the development of its ATR inhibitor, RP-3500, which was expected to be launched in 2020. In addition, Repare Therapeutics is developing CCNE1 synthetic lethality-targeted therapeutics and collaborating with Japan’s Ono Pharmaceutical Co., Ltd. on a Polθ program.

Kevin Raidy stated, “Repare boasts an exceptional management team, and we are highly confident in its lead drug candidates and innovative cancer therapies. Cowen will continue to provide financial support to Repare to improve treatment outcomes for cancer patients.”

“Repare Therapeutics’ President and Chief Executive Officer, Lloyd M. Segal, said, ‘We are honored to have the support of a broad base of investors. Repare Therapeutics remains committed to developing novel precision oncology therapeutics and exploring new cancer treatments.’”

Cowen, headquartered in New York, USA, is an investment firm focused on the healthcare sector. The company primarily provides financial support and strategic guidance to life sciences, medical technology, and healthcare services companies.

OrbiMed, founded in 1989 and headquartered in New York, USA, is a venture capital and private equity firm. The company primarily invests in the healthcare sector and manages over $5 billion in assets.

Redmile, founded in 2007 and headquartered in California, United States, is a venture capital and private equity firm. The company primarily invests in the healthcare sector.

BVF Partners, established in 1993 and headquartered in California, USA, is a venture capital firm dedicated to advancing the biotechnology sector.

Logos Capital, established in 2014, is a private equity firm primarily investing in the healthcare industry.

Versant Ventures, founded in 1999 and headquartered in California, USA, is a venture capital and private equity firm. With offices in Canada, the United States, and Europe, the company primarily helps healthcare companies discover and develop novel therapies. Versant currently manages approximately $2.3 billion in assets.

MPM, founded in 1996 and headquartered in Massachusetts, USA, is a venture capital and private equity firm. The company primarily invests in healthcare and biotechnology enterprises.

Fonds de solidarité FTQ is a venture capital firm that primarily invests in innovative technologies and the healthcare industry.

BDC Capital, headquartered in Quebec, Canada, is a venture capital firm with a professional investment management team.

(Compiled by Xu Xiaoxue)