Rock Springs leads $75m Series B round in Corvus Pharmaceuticals

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research-853474_1280Rock Springs Capital Management was lead investor in a $75m Series B financing round for US cancer treatment researcher Corvus Pharmaceuticals.

Other investors that backed the round included Fidelity Management and Research Company, Blackrock, Roche Venture Fund, Cormorant Asset Management, venBio Select, Cowen Private Investments, Orbimed, Novo Ventures and Adams Street Partners.

The round was also supported by Corvus’ founding investors, Orbimed, Novo Ventures and Adams Street Partners.

Corvus, a biopharmaceutical company which has its primary focus on the development of cancer treatments, will invest the proceeds from this latest transaction in new R&D immuno-oncology programmes. That will include the launch of a Phase 1B clinical trial in the first quarter of next year.

Rock Springs Capital specialises in healthcare sector investments. It was among the new investors in a $35m Series B-1 financing round in Mersana Therapeutics that was completed in March.

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