Immune-Onc Therapeutics Announces $73 Million Financing to Advance its Portfolio of Novel Immunotherapies in Blood Cancers and Solid Tumors | Leukemia and Lymphoma Society
Summary
PALO ALTO, CA, March 30, 2021 / Business Wire / -- Immune-Onc Therapeutics, Inc. (Immune-Onc), a clinical-stage cancer immunotherapy company developing novel biotherapeutics targeting immunosuppressive myeloid checkpoints today announced the closing of a $73 million Series B1 and B2 financing. In conjunction with this round of financing, Oceanpine CEO and managing partner Dave Chenn joins the Immune-Onc Board of Directors. In addition, the company received a strategic capital investment from The Leukemia & Lymphoma Societys Therapy Acceleration Program\xae (LLS TAP), directed toward advancing the companys work to treat blood cancers.Immune-Oncs lead program IO-202, a first-in-class antibody targeting LILRB4 (also known as ILT3), is being developed to treat blood cancers, including acute myeloid leukemia (AML) and chronic myelomonocytic leukemia (CMML), and solid tumors. In hematologic malignancies, preclinical studies showed that IO-202 converts a dont kill me to a kill me signal by activating T cell killing and converts a dont find me to a find me signal by inhibiting 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.