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Nuvation Bio

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Nuvation Bio is a biopharmaceutical company

New York City, United StatesFounded 2018Biotech & Life Sciences

Valuation $1.73B Market cap · 2026

Revenue $100–500M Latest reported FY

Total funding $100–500M Disclosed equity funding

About Nuvation Bio

Nuvation Bio Inc. is a clinical-stage biopharmaceutical company established in 2018 with a strategic focus on developing targeted therapies for oncology. The company was founded by David T. Hung, M.D., a seasoned entrepreneur in the biopharma industry. Dr. Hung's background as a clinical oncologist and his prior success with Medivation, which developed a leading prostate cancer drug and was acquired by Pfizer for \$14.3 billion, form the foundational expertise of Nuvation Bio. His motivation stems from a desire to create better treatment options for patients with difficult-to-treat cancers, a mission that began after one of his patients passed away from an aggressive form of breast cancer. Nuvation Bio secured significant initial capital with a Series A financing of approximately \$275 million and went public in 2021 through a merger with a special purpose acquisition company (SPAC), Panacea Acquisition Corp.

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The company's business model is centered on the discovery, development, and commercialization of a pipeline of oncology drug candidates. As a clinical-stage entity, its financial structure is characterized by substantial investment in research and development, funded by its capital reserves. With the recent FDA approval of its first product, IBTROZI™ (taletrectinib), in June 2025, Nuvation Bio has transitioned into a commercial-stage company. Revenue is now being generated from product sales, with initial sales recorded in the U.S., alongside income from collaboration and license agreements. The company operates in the global oncology market, serving patients with advanced cancers for whom conventional therapies may have failed.

Nuvation Bio's portfolio includes several therapeutic candidates targeting critical cancer pathways. Its lead product, IBTROZI™ (taletrectinib), is a next-generation ROS1 inhibitor for the treatment of adult patients with advanced ROS1-positive non-small cell lung cancer (NSCLC). The pipeline also features safusidenib, a brain-penetrant inhibitor for mutant IDH1 (mIDH1) gliomas, and NUV-1511, a drug-drug conjugate (DDC) being evaluated for advanced solid tumors. Another candidate, NUV-868, a BET inhibitor, has undergone Phase 1 studies. The company's DDC platform represents a distinct approach, designed to selectively deliver potent anti-cancer agents to tumor cells to maximize toxicity against cancer while minimizing harm to healthy tissue. The company actively manages its pipeline, as demonstrated by the discontinuation of a CDK inhibitor, NUV-422, to reallocate resources to more promising candidates.

Source: Dealroom company data