PALO ALTO, Calif .– (COMMERCIAL THREAD) – Immune-Onc Therapeutics, Inc. (“Immune-Onc”), a clinical-stage cancer immunotherapy company developing new biotherapeutics targeting immunosuppressive myeloid checkpoints, today announced the closing of ” Series B1 and B2 financing of $ 73 million. The round was led by Oceanpine Capital with the participation of additional new investors, including Octagon Capital and Sphera Healthcare, and existing investors, including Northern Light Venture Capital and Vivo Capital. Along with this round of funding, Oceanpine CEO and Managing Partner Dave Chenn is joining the Immune-Onc Board of Directors. In addition, the company received a strategic capital investment from the Leukemia & Lymphoma Society’s Therapy Acceleration Program.® (LLS TAP), aimed at advancing the company’s work to treat blood cancers.
“We are delighted that this high caliber group of new and existing investors share our enthusiasm for the transformative potential of myeloid checkpoint inhibition and believe in the ability of Immune-Onc to deliver on this promise with our pipeline. first-class cancer immunotherapies, ”said Charlene Liao, Ph.D., CEO of Immune-Onc. “This round of investment has been significantly oversubscribed, allowing the company to accelerate the clinical development of several new assets and deliver what we believe is the next breakthrough in immunotherapy treatment for many of the most devastating cancers. in the world. ”
The proceeds from the funding will allow Immune-Onc to advance its portfolio of blood cancer and solid tumor immunotherapies targeting myeloid checkpoints with a focus on the LILRB family. Immune-Onc has raised more than $ 110 million from investors since it began operations in 2016. As of August 2020, the company announcement he had received a Small Business Innovation Research (SBIR) grant from the National Cancer Institute (NCI) of the National Institutes of Health (NIH) to support the clinical development of IO-202.
“We are excited about Immune-Onc’s innovative approach to cancer immunotherapy targeting myeloid checkpoints and their leading portfolio of first-class assets,” said Dave Chenn, CEO and Managing Partner of Oceanpine Capital. “We have full confidence in the company’s highly experienced management team and are delighted to be at the forefront of this new area of research and development through our investment in Immune-Onc to support their next phase of development. growth.
Immune-Onc’s research and development programs are focused on targeting leukocyte immunoglobulin-like receptor (LILRB) subfamily B (LILRB) myeloid checkpoints to overcome cancer immune resistance. The company has invested in proprietary models, tests and tools to question biology and translate this cutting edge research into the development of new therapies.
The main program for Immune-Onc IO-202, a first-class antibody targeting LILRB4 (also known as ILT3), is in development to treat cancers of the blood, including acute myeloid leukemia (AML) and chronic myelomonocytic leukemia (CMML), and solid tumors. In hematologic malignancies, preclinical studies have shown that IO-202 converts a ‘don’t kill me’ signal into a ‘kill me’ signal by activating the destruction of T cells and converts a ‘don’t find me’ signal into one. signal “find me” by inhibiting the infiltration of hematologic cancer cells.
In September 2020, Immune-Onc initiated a Phase I trial evaluating IO-202 in AML with monocytic differentiation and in CMML. The United States Food and Drug Administration granted orphan drug status to IO-202 for the treatment of AML in October 2020. The company is also evaluating IO-202 in solid tumors and will present preclinical data for the first time. on April 10, 2021 at the American Association for Cancer Research Annual Meeting (# AACR21).
Immune-Onc has active preclinical programs targeting other members of the LILRB family, including IO-108, a novel antagonist antibody targeting LILRB2 (also known as ILT4) which is currently in the activation stage of LILRB2. ‘IND. The company presented preclinical data supporting IO-108 for the treatment of solid tumors at the 35th anniversary annual meeting of the Society for Immunotherapy of Cancer (SITC) and plans to submit an investigational new drug application in mid-2021 . Other preclinical actives include IO-106, a first-class anti-LAIR1 antibody, and multiple undisclosed programs for solid tumors and hematologic malignancies.
About the Leukemia & Lymphoma Society and the Therapy Acceleration Program® (TAP)
The Leukemia & Lymphoma Society® (LLS) is a world leader in the fight against cancer. LLS’s mission is to cure leukemia, lymphoma, Hodgkin’s disease and myeloma, and to improve the quality of life for patients and their families. LLS TAP is a strategic initiative that forges business alliances and collaborations with biotech companies and academic researchers to identify potential disruptive therapies with the capacity to change the standard of care. LLS TAP funds advanced preclinical studies and proof of concept or registration clinical trials to help advance therapies throughout the drug development and approval process. To learn more, visit www.LLS.org/therapy-acceleration-program. Follow LLS on Facebook, Twitter, and Instagram.
ABOUT IMMUNE-ONC THERAPEUTICS, INC.
Immune-Onc Therapeutics, Inc. (“Immune-Onc”) is a clinical-stage cancer immunotherapy company dedicated to the discovery and development of novel myeloid checkpoint inhibitors for cancer patients. Based in Palo Alto, Calif., Immune-Onc has assembled a diverse team with deep expertise in drug development and a proven track record of success in leading biotechnology companies.
The company aims to translate unique scientific knowledge on myeloid cell biology and immune inhibitory receptors to discover and develop first-class biotherapeutics that turn off immune suppression in the tumor microenvironment. Immune-Onc has a promising pipeline with a current focus on targeting the leukocyte immunoglobulin receptor (LILRB) subfamily B subfamily of myeloid checkpoints. The company has strategic research collaborations with the University of Texas, Albert Einstein College of Medicine, and Memorial Sloan Kettering Cancer Center, and has invested in proprietary models, tests, and tools to interrogate biology and translate this cutting-edge research in the development of new therapies. For more information, please visit www.immune-onc.com and follow us on Twitter and LinkedIn.