Viking in PIPE Investment in ORIC Pharmaceuticals

Cleary Gottlieb represented Viking Global Investors (Viking) in a PIPE investment in ORIC Pharmaceuticals Inc. (ORIC), a clinical-stage biopharmaceutical company dedicated to the development of therapeutics for oncology and rare diseases.

The PIPE generated gross proceeds of approximately $125 million to ORIC. The financing included participation from new and existing institutional investors and was led by SR One Capital Management, with participation from Point72, Viking, Venrock Healthcare Capital Partners, New Enterprise Associates, Nextech, Vivo Capital, and NEXTBio Capital.

ORIC is a clinical stage biopharmaceutical company dedicated to improving patients’ lives by Overcoming Resistance in Cancer. ORIC’s clinical stage product candidates include ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and ORIC-114, a brain penetrant inhibitor that selectively targets EGFR exon 20, HER2 exon 20, and EGFR atypical mutations, being developed across multiple genetically defined cancers. Beyond these two product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms.

Viking is a global investment firm that manages over $50 billion of capital across public equity, private equity, and credit and structured capital strategies. Viking has more than 275 employees, including more than 40 investment professionals, across five offices: Stamford, New York, Hong Kong, London, and San Francisco.

For more information, please see the press release.