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Cullinan Oncology, LLC emerged from stealth mode with $150 million in Series A financing as well as a new strategy for tackling oncological drug development - a financial strategy that seeks to mitigate developmental risk.
A pair of venture capital firms is investing $150 million in a Cambridge startup that hopes to develop cancer medicines using what it says is a new streamlined business model.
It's no secret that discovering and developing cancer drugs is an expensive and risky endeavor. But Cullinan Oncology is betting that a financial approach, rather than a purely scientific one, can improve the odds, and it has raised $150 million to test its approach.
CAMBRIDGE, Mass., October 3, 2017 - - Cullinan Oncology, LLC announced today a $150 million Series A financing co-led by the UBS Oncology Impact Fund (OIF) managed by MPM Capital, a worldwide leader in oncology investing, and F2 Ventures.