Proceeds from the round, which included Lilly Asia Ventures, will be used to advance Tempest Therapeutics' lead enzyme inhibitor into the clinic.
US-based anti-tumour drug developer Tempest Therapeutics has closed a $70m series B round that included Lilly Asia Ventures, a corporate venturing subsidiary of pharmaceutical form Eli Lilly.
Versant Ventures, the healthcare investment firm that was Tempest’s founding investor, co-led the round with F-Prime Capital Partners, a subsidiary of financial services group Fidelity, and alternative investment firm Quan Capital.
The investors were rounded out by another Fidelity subsidiary, Eight Roads Ventures, and growth equity firm Foresite Capital. Robert Weisskoff, a partner…
