Celgene-backed cancer biotech Repare emerges from stealth with $68M

After 18 months being incubated by Versant Ventures, upstart Repare Therapeutics has emerged from stealth mode with an impressive $68 million, backing from Celgene and some big-name execs.The Montreal and Cambridge, Massachusetts, biotech saw founding investor Versant Ventures co-lead the series A round with MPM Capital. They were also joined by other syndicate investors including FTQ, Celgene and BDC Ventures.

Repare’s first disclosed program targets DNA-directed DNA polymerase theta (PolQ), a central component of a pathway that repairs double-strand breaks in cancer cells. New York University School of Medicine has licensed to Repare exclusive rights to drug discovery work targeting PolQ, developed by Agnel Sfeir, Ph.D., with the support of NYU's Office of Therapeutics Alliances. This polymerase is highly expressed in ovarian, breast and a number of other cancers. The first human test for its leading compound is slated for 2019.

Read the full article here:
http://www.fiercebiotech.com/biotech/celgene-backed-cancer-biotech-repare-emerges-from-stealth-68m

Monday, June 26, 2017