Cancer-focused precision medicine company raises $85M

Anuja Vaidya (Twitter) - Print  | 

Black Diamond Therapeutics, a biotechnology company developing precision medicine approaches for cancer care, completed a series B round of financing, raising $85 million.

The company will use the new funds to accelerate development of its pipeline and expand its mutation, allostery and pharmacology, or MAP, computational and discovery platform. The platform is designed to identify allosteric oncogenic mutations.

The company also plans to establish its new corporate headquarters in Cambridge, Mass., as well as advance two or three existing development candidates into the clinic over the next two years.

New Enterprise Associates and RA Capital Management led the latest investment round. In all, Black Diamond Therapeutics has raised $105 million so far.

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