Press Release January 06, 2021

Ikena Oncology Completes $120 Million Series B

The Life Sciences team advised Ikena Oncology on the closing of its $120 million oversubscribed Series B. The financing round was led and syndicated by Omega Funds and included participation from additional new investors: Fidelity Management & Research Company, LLC, Surveyor Capital, Invus, Farallon Capital Management, BVF Partners, L.P., Cowen Healthcare Investments, Logos Capital and HealthCor Management. Existing investors Atlas Venture, OrbiMed, and Bristol Myers Squibb all participated in the round.

Ikena Oncology is a clinical-stage biotechnology company that discovers and develops patient-directed, biomarker-driven therapies for cancer patients who need life-saving treatment, by understanding what drives their disease. The company intends to use the proceeds from this financing to advance its pipeline of targeted oncology therapies, including its novel development candidate TEAD inhibitor IK-930, and a new first-in-class preclinical program targeting KRAS signaling.

The Goodwin deal team was led by Bill Collins, Stephanie Richards, Chris Huntsman, Kristina Jacobs and Martha Koroshetz with assistance from Jacob Osborn, Amy Josselyn, Brad Weber, Coleen Doyle and Nathan Needle. The Ikena team was led by Richard Hoffman.

For additional details on the financing, please read the press release.