ORIC Pharmaceuticals, Inc. announced that it expects to receive $125 million in funding from Viking Global Investors LP, Commodore Capital LP, Frazier Management, L.L.C., Frazier Life Sciences Management, LP, VR Adviser, LLC, Nextech Invest Ltd.
January 19, 2024
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ORIC Pharmaceuticals, Inc. entered into a stock purchase agreement for issuance of 12,500,000 shares at a price of $10 per share for gross proceeds of $125 million on January 20, 2024. The transaction included participation from new investors Viking Global Opportunities Drawdown (Aggregator) LP, Viking Global Opportunities Illiquid Investments Sub-Master LP, funds managed by Viking Global Investors LP; Commodore Capital Master LP, a fund managed by Commodore Capital LP; Frazier Life Sciences X, L.P., Frazier Life Sciences XI, L.P., Frazier Life Sciences Management, LP, Frazier Life Sciences Public Overage Fund, L.P., Frazier Life Sciences Public Fund, L.P., fund managed by Frazier Management, L.L.C.; Venrock Healthcare Capital Partners EG, L.P., a fund managed by VR Adviser, LLC; Growth Equity Opportunities 18 VGE, LLC; Nextech Crossover I SCSP, a fund managed by Nextech Invest Ltd. The transaction is expected to close on January 23, 2024, subject to customary closing conditions. The private placement is exempt from the registration requirements of the Securities Act pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws.
ORIC Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company engaged in improving patients' lives by overcoming resistance in cancer. It is developing a pipeline of clinical and discovery stage therapies designed to counter resistance mechanisms in cancer by leveraging its expertise within three specific areas: hormone-dependent cancers, precision oncology and key tumor dependencies. Its clinical-stage product candidates include ORIC-114, a brain penetrant inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations, being developed across multiple genetically defined cancers, ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens.
ORIC Pharmaceuticals, Inc. announced that it expects to receive $125 million in funding from Viking Global Investors LP, Commodore Capital LP, Frazier Management, L.L.C., Frazier Life Sciences Management, LP, VR Adviser, LLC, Nextech Invest Ltd.
ORIC PHARMACEUTICALS, INC. 
