A California biotech announced itself to the world on Monday with $275 million, a familiar name at the top — and no pipeline in sight.
The company, Nuvation Bio, aims to be ambitious — according to the press release announcing the round, it has seven “mechanistically distinct programs.” It did not disclose any details about what those programs are, however. Nuvation’s CEO is Dr. David Hung.
For Hung, his leadership of the company marks a return to oncology and to the CEO seat. Hung is best known for founding Medivation — which developed Xtandi, a drug for prostate cancer — and then selling the company to Pfizer for $14 billion in 2016.