Goldman Sachs led the $158m Series B round in TORL BioTherapeutics.

Goldman Sachs, a provider of investment management solutions across all major asset classes to a diverse set of institutional and individual clients, led the $158m Series B round in TORL BioTherapeutics, a biopharmaceutical company focused on developing new biologics for cancer treatment, with participation from UC Investments, Bristol Myers Squibb, Deep Track, Vertex Ventures, Moore Strategic Ventures, Cowen Healthcare Investments, Perceptive Xontogeny Venture, Alexandria Venture Investments and OCV Partners. "It has been tremendously gratifying to pioneer TORL's innovative approach to drug discovery and development, culminating in the launch of multiple clinical trials with our drugs over the past year. We created and demonstrated an original, capital efficient structure which, despite the challenging market conditions, attracted a distinguished group of biotech investors with a shared vision for rapid cancer drug development. With the close of this Series B financing, we can advance our new programs into the clinic and existing clinical-stage programs into the next phase," David Licata, TORL CEO.