Tesaro raises $40mm in Series B; brings in $60.8mm more

Tesaro Inc. (supportive cancer therapeutics) has secured $101mm in Series B funding, $40mm of which has already been received through the sale of convertible preferred shares. Kleiner Perkins Caufield & Byers led, joined by founding backer New Enterprise Associates (which committed $40mm of the total amount) and new investors InterWest Partners, T. Rowe Price, Pappas Ventures, Oracle Partners, Deerfield Management, Leerink Swann, and nine other buyers. Partners from Kleiner Perkins and InterWest have joined the company's board. Proceeds will help bring Tesaro's lead candidate rolapitant (in-licensed from Opko Health last year) through Phase III trials for chemotherapy-induced nausea and vomiting.