Forty Seven Inc., a Menlo Park, CA-based clinical-stage immuno-oncology company, raised a $75m Series B funding.
The round was led by new investor Wellington Management Company LLP with participation from existing investors Clarus, Lightspeed Venture Partners, Sutter Hill Ventures and GV (Google Ventures).
The company intends to use the proceeds for expansion of ongoing clinical trials with CD47 antibody and initiation of new trials in combination with other immuno-oncology agents.
Led by CEO Mark McCamish, Forty Seven is developing therapies licensed from Stanford University targeting cancer immune evasion pathways. The lead program Hu5F9-G4 is a monoclonal antibody against the CD47 receptor, a “don’t eat me” signal that cancer cells commandeer to avoid being ingested by the immune system.
This antibody is currently being evaluated in two Phase 1 clinical studies in patients with solid tumors and in patients with acute myeloid leukemia.