Taiho announces investment in Arcus
Arcus has raised $70 million in equity capital from Taiho Ventures, GV, Invus, DROIA Oncology Ventures and Stanford University, along with its Series A investors that include The Column Group, Foresite Capital, Novartis and Celgene. It will now be able to move forward with its small molecule and antibody immune-oncology rapid drug development activities. The goal of the company is to build its own internal combinations.
"Taiho Ventures is pleased to support the Arcus team and its promising drug pipeline programs," Taiho Executive Director, Global Chief Corporate Officer, Taiho Pharmaceuticals, and Investment Committee member Nobuyuki Hashimoto said. "Terry Rosen, chief executive officer, and Juan Jaen, president, are among the leaders in the oncology drug discovery field with over 20 years of experience, and have built an innovative immuno-oncology program at Flexus, leading to the significant acquisition transaction with Bristol-Myers Squibb in a short period of time. Together, they have many years of industry experience as successful entrepreneurs and are invaluable as they take Arcus to the next level with this significant round of financing."