Imago BioSciences

Erasca’s IPO leads the way as three cancer biotechs raise $534M for clinical trials

Cancer drug developer Erasca, whose mission is to “erase cancer,” has raised $300 million from its IPO. The clinical-stage biotech addresses a single elusive cancer target; it has multiple programs taking multiple approaches, two of them in human testing and the rest on track to join them.

Imago raises $80M to further studies of its treatment for blood and bone-marrow disorders

The San Francisco-based company aims to complete at least one Phase III study by 2025, and it is weighing an IPO next year to fund more.