Turning Point Therapeutics Acquisition, Valuation, Funding & Investors

Turning Point Therapeutics was acquired by Bristol-Myers Squibb for $4.1B in June 2022.

Turning Point Therapeutics acquisition price

$4.1B

Acquired by Bristol-Myers Squibb · Jun 2022

Cumulative funding Turning Point Therapeutics raised

$144M

across 4 funding rounds

Key investors in Turning Point Therapeutics

Turning Point Therapeutics Overview

About Turning Point Therapeutics

Turning Point Therapeutics is a clinical-stage biopharma company developing precision oncology drugs using structure-based design. San Diego-based since 2016 and acquired by Bristol Myers Squibb in 2022, Turning Point advanced repotrectinib for ROS1/TRK/ALK cancers through Phase 2 trials. The pipeline targets mutant kinases like KRAS and EGFR with allosteric inhibitors, addressing resistance in lung and other solid tumors. Turning Point's platform employs X-ray crystallography for novel small molecules.


Founded

2013

HQ

United StatesSan Diego, CA

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Valuation

$4.1B (acquired Jun 2022)

Turning Point Therapeutics Acquisition

Turning Point Therapeutics was acquired by Bristol-Myers Squibb for $4.1B on 3 June 2022.

Before the acquisition Turning Point Therapeutics had raised $144M across 4 funding rounds.

Turning Point Therapeutics acquisition details
AcquirerDateTypePrice
3 Jun 2022Strategic M&A$4.1B

Turning Point Therapeutics Funding History

Turning Point Therapeutics has raised a total of $144M across 4 funding rounds.

Turning Point Therapeutics' first fundraising round was a $1M seed round in January 2014. The most recent completed round was a $80M undisclosed-stage round in October 2018.

Turning Point Therapeutics funding rounds

Turning Point Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2018Undisclosed stageForesite Capital (lead); venBio Partners (lead); Nextech Invest; Kenson Ventures; HBM Healthcare Investments; SR One; Lilly Asia Ventures; OrbiMed; Cormorant Asset Management$80MTurning Point Therapeutics is a clinical-stage precision oncology company developing tyrosine kinase inhibitors targeting genetic drivers of cancer, including lead candidate repotrectinib for ROS1-positive NSCLC and other solid tumors. Its pipeline includes TPX-0022 (MET/SRC/CSF1R inhibitor), TPX-0046 (RET inhibitor), and TPX-0131 (ALK inhibitor), with partnerships like Zai Lab for Greater China rights on select assets. The company, founded in 2013 and based in San Diego, went public in 2019 and was acquired by Bristol Myers Squibb in 2022 for $4.1 billion at $76 per share. Bristol Myers Squibb's acquisition valued the firm at $4.1 billion, reflecting strong clinical data for repotrectinib, which showed 79% response rates in Phase 1/2 trials, positioning it against competitors like Roche's Rozlytrek and Pfizer's Xalkori.
May 2017Series CLilly Asia Ventures (lead); OrbiMed (lead); SR One (lead); SV Tech Ventures; Cormorant Asset Management$45MTurning Point Therapeutics is a precision oncology drug developer focused on developing targeted small molecule cancer drugs, specifically tyrosine kinase inhibitors designed to address genetic drivers of cancer. The company's lead candidate at the time was TPX-0005, in Phase I/II clinical trials (TRIDENT-1) for advanced solid tumors harboring rearrangements in ALK, ROS1, TrkA, TrkB, and TrkC pathways. In May 2017, Turning Point raised $45 million in a Series C financing round co-led by Lilly Asia Ventures, OrbiMed Advisors, and SR One (a subsidiary of GlaxoSmithKline), with participation from existing investors Cormorant Asset Management and SV Tech Ventures. The company was pre-revenue and in early clinical development stages, focused on advancing its pipeline of precision oncology candidates. Turning Point subsequently went public in April 2019 at $18 per share, raising approximately $167 million and achieving a post-IPO valuation of approximately $600 million. The company was later acquired by Bristol Myers Squibb in August 2022 for $76 per share in a $4.1 billion transaction, reflecting significant value creation from its targeted cancer drug pipeline.
Mar 2016Series B-$18M-
Jan 2014Seed-$1M-

Who has invested in Turning Point Therapeutics?

10 investors have backed Turning Point Therapeutics across its funding rounds, including OrbiMed, Cormorant Asset Management, Lilly Asia Ventures, SR One, Foresite Capital and HBM Healthcare Investments.

Lead investors include Foresite Capital, venBio Partners, Lilly Asia Ventures, OrbiMed and SR One.


Turning Point Therapeutics Investors

Investors in Turning Point Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
SR OneUnited StatesUnited States2LeadMay 2017
Lilly Asia VenturesChinaShanghai2LeadMay 2017
OrbiMedUnited StatesNew York City, NY2LeadMay 2017
Cormorant Asset ManagementUnited StatesBoston, MA2ParticipantMay 2017
Nextech InvestSwitzerlandZurich1ParticipantOct 2018
Kenson VenturesUnited StatesSan Francisco, CA1ParticipantOct 2018
HBM Healthcare InvestmentsSwitzerlandZug1ParticipantOct 2018
SV Tech VenturesUnited StatesSan Francisco, CA1ParticipantMay 2017

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Turning Point Therapeutics Competitors

Turning Point Therapeutics competitors include listed companies like Henlius Biotech and Caliway Biopharmaceuticals, and private ones like Biomat USA, ArsenalBio, BioRay Pharmaceuticals and Rakuten Medical.

Public and private companies comparable to Turning Point Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Biomat USAUnited StatesLos Angeles, CAPrivate--$4.2B-
ArsenalBioUnited StatesUnited StatesPrivate--$1.9B-
BioRay PharmaceuticalsChinaShanghaiPrivate$131M-$1.9B14.5x
Rakuten MedicalUnited StatesSan Diego, CAPrivate--$1.7B-
Henlius BiotechChinaChinaPublicly listed$994M$198M$4.1B4.2x
Caliway BiopharmaceuticalsTaiwanTaiwanPublicly listed$1M($17M)$4B-

Turning Point Therapeutics Public Comps

Turning Point Therapeutics is no longer listed, but its public comps include MGI Tech, Hamamatsu Photonics, Henlius Biotech, Caliway Biopharmaceuticals, Celcuity, Mirion, InnoCare Pharma, Aspen Pharmacare, Imeik Technology Development and Andon Health.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
MGI Tech$414M$19M9.1x8.2x194.7x80.4x
Hamamatsu Photonics$1.4B$272M3.0x2.7x15.0x14.0x
Henlius Biotech$994M$198M4.5x4.2x22.9x21.8x
Caliway Biopharmaceuticals$1M($17M)3288.3x-(225.7x)-
Celcuity-($172M)-163.2x(24.2x)(17.8x)
Mirion$925M$201M5.3x4.5x24.4x18.0x
InnoCare Pharma$354M$106M8.7x8.2x29.3x53.6x
Aspen Pharmacare$2.7B$200M2.2x2.7x29.2x14.1x

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Common questions about Turning Point Therapeutics

When was Turning Point Therapeutics founded?Turning Point Therapeutics was founded in 2013.
Where is Turning Point Therapeutics headquartered?Turning Point Therapeutics is headquartered in San Diego, CA, United States.
Is Turning Point Therapeutics publicly listed?No, Turning Point Therapeutics was acquired by Bristol-Myers Squibb in June 2022.
Who acquired Turning Point Therapeutics?Turning Point Therapeutics was acquired by Bristol-Myers Squibb in June 2022.
How much was Turning Point Therapeutics acquired for?Turning Point Therapeutics was acquired for $4.1B in June 2022.
How much funding has Turning Point Therapeutics raised?Turning Point Therapeutics has raised $144M across 4 funding rounds.
What was Turning Point Therapeutics' last funding round?Turning Point Therapeutics' last funding round was a $80M undisclosed-stage round in October 2018, led by Foresite Capital and venBio Partners.
Who are Turning Point Therapeutics' investors?Turning Point Therapeutics' investors include SR One, Lilly Asia Ventures, OrbiMed, Cormorant Asset Management, Nextech Invest, Kenson Ventures, HBM Healthcare Investments, SV Tech Ventures, Foresite Capital and venBio Partners.
Which companies are comparable to Turning Point Therapeutics?Companies comparable to Turning Point Therapeutics include Biomat USA, ArsenalBio, BioRay Pharmaceuticals, Rakuten Medical, Henlius Biotech and Caliway Biopharmaceuticals.

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