Startups, Venture

Jonathan Lim isn’t ready to say much about his new startup, but he does have $42M for it

Jonathan Lim knows how to build biotechs for a sale. He auctioned off Ignyta — where he was CEO — to Roche last February for a tidy $1.7 billion, gaining a 74% premium on his stock. A few months before he also participated in the sale of Bonti to Allergan, which he had co-founded and helped manage as chairman of the board.

Now he’s on to a new startup, but don’t look for a lot of details about the plans he’s hatching now.

The company is Erasca (as in erase cancer), based in San Diego. Lim, the executive chairman, is tackling cancer again — talking about potential cures, no less. And he has $42 million in A round money for the team of 12 to get started.

That’s about it, for now. In an interview, Lim declined to offer any details about the work the 12-member team has planned. Time to clinic? Why, there should be several programs in the clinic in a few years. Science? Nothing really to add there either, beyond the fact that they are focused on small molecules and “key molecular drivers.” There was a customary bow to “precision medicine.”

City Hill Ventures, where Lim is managing partner, and Cormorant Asset Management led the round. Lim also recently joined Arch as a venture partner.

Erasca and Lim may have a story to tell at some point. But except for a name and some money and a ballpark disease area to play in, it may as well have stayed in stealth mode for awhile longer.

Image: Jonathan Lim. MASS KICKER

The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 51,100+ biopharma pros who read Endpoints News by email every day.

Free Subscription

VP Oncology Biology
Skyhawk Therapeutics Waltham, MA
Director Process Development
Elektroki Boston, MA
Director Process Development
Elektroki Boston, MA
Research Scientist - Immunology
Recursion Pharmaceuticals Salt Lake City, UT

Visit Endpoints Careers ->