Canada's Repare Therapeutics raises $82.5 mln in its Series B financing

Canadian precision oncology company Repare Therapeutics has completed with $82.5 million in its Series B funding round.

Led by Cowen Healthcare Investments, the round was also joined by new backers, OrbiMed, Redmile, BVF Partners L.P. and Logos Capital.

Additionally, Versant Ventures and existing investors, MPM Capital, Fonds de solidarité FTQ, and BDC Capital also participated in the financing, bringing Repare's total funding raised to date to more than $140 million.

Repare Therapeutics plans to use the net proceeds from the funding to advance its pipeline of synthetic-lethal, precision oncology therapies for multiple solid tumor indications and bring them to the clinic in the next 18 months.