Rain raises $18M to advance tarloxotinib in NSCLC

Rain Therapeutics Inc. (Fremont, Calif.) closed on May 21 a tranched $18.4 million series A round led by Biotechnology Venture Fund (BVF), with participation from fellow new investors Perceptive Advisors, Auckland UniServices' Inventors Fund and FMB Research’s Franklin Berger. Other undisclosed private investors also participated.

Rain co-founder, CEO and Chairman Avanish Vellanki told BioCentury the series A funding will provide about three years of cash, enough to complete a Phase II proof-of-concept trial of Rain's sole candidate, tarloxotinib, in non-small cell lung cancer patients with EGFR and ErbB exon 20 insertion mutations. Rain expects to begin the trial in 1H19...