May 11 Quick Takes: $830M for tumor profiler Caris; plus Nuvalent’s $135M series B, Ginkgo’s $2.5B SPAC and updates from Adaptive, LianBio-Nanobiotix, Phico, Laevoroc

Sixth Street has made its third investment in molecular profiling company Caris Life Sciences Inc., leading a $830 million round at a postmoney valuation of $7.8 billion. The investment comes less than a year after the company raised $310 million in combined equity and debt to scale up its tumor profiling business and expand its biopharma partnerships. At least 17 investors piled into the latest round, with T. Rowe Price, Silver Lake, Fidelity and Coatue taking what the company called “significant” positions. 

With two molecules poised to enter the clinic in the coming months, targeted oncology company Nuvalent Inc. has turned to a crossover syndicate for its $135 million series B round. When Nuvalent emerged from stealth mode in January, CEO Jim Porter told BioCentury that ROS1 inhibitor NUV-520 and ALK inhibitor NUV-655 were due to begin Phase I/II trials next half and in 1H22, respectively. Deerfield was the lone investor in its series A round in 2018; Bain Capital Life Sciences led the new funding, with participation from Deerfield, Fidelity, Wellington Management, Viking Global Investors, Janus Henderson, Avoro Capital Advisors, Boxer Capital, Venrock, Fairmount Funds Management, Driehaus Capital Management and Logos Capital...