BRIEF—Black Diamond raises $85 million for precision oncology efforts

Precision oncology firm Black Diamond Therapeutics has raised $85 million in a series B financing round led by New Enterprise Associates and RA Capital Management. The company now has raised $105 million.

The firm says the money will be used to accelerate pipeline development and to expand its mutation, allostery and pharmacology (MAP) computational and discovery platform.

Black Diamond will found a new corporate headquarters in Cambridge, USA, and aims to advance two-to-three existing development candidates into the clinic in the next two years.
The firm’s first two disclosed programs are targeting groups of EGFR and HER2 allosteric mutants.