OncoImmune, a Rockville, Maryland clinical-stage biopharmaceutical company, closed $15.0m Series A funding round.
The round was led by 3E Bioventures Capital.
The company intends to use the funds to develop a novel clinical stage asset targeting the CD24-Siglec pathway that regulates host inflammatory response to tissue injuries, which has broad implications in the pathogenesis of autoimmune diseases, cancer and graft-versus-host disease (GvHD), as well as other immuno-oncology (IO) assets with a focus on solid tumor targeting monoclonal antibodies, cancer vaccines, and immunotherapy-related adverse events.
Led by Yang Liu, CEO and cofounder, OncoImmune is actively engaged in the discovery and development of novel immunotherapies for cancer, inflammation and autoimmune diseases. The company, which entered into a license and option agreement in 2016 with Pfizer Inc. regarding ONC-392, a pre-clinical IO program, will continue clinical testing of its lead clinical product, CD24Fc, in a Phase II trial for the prevention of acute GvHD following myeloablative allogeneic hematopoietic stem cell transplant. CD24Fc has received orphan drug designation for GvHD in both the US and Europe.