Oncologie, a Boston, MA- and Shanghai, China-based oncology therapeutics company, closed an $80M Series B financing.
The round was led by existing investors Nan Fung Life Sciences and Pivotal BioVentures China, which are joined by a syndicate of new investors including Panacea Venture Healthcare and Korea Investment Partners.
Led by Laura E. Benjamin, PhD, Founder, President, and CEO, Oncologie is an innovative biopharmaceutical company using proprietary biomarkers to drive clinical development of next-generation oncology therapeutics.
The current pipeline is focused on mid-stage clinical programs that modify the immune system to enhance efficacy of current standards of care and emerging immunotherapy agents.
The company intends to use the funds to advance its three clinical stage programs, as well as its proprietary biomarker platform and in-licensing activities. Oncologie will initiate key clinical trials in the coming months, including:
– a global proof of concept gastric cancer study with its lead compound, bavituximab, in combination with pembrolizumab (Keytruda). Bavituximab is an investigational immune-modulatory monoclonal antibody that targets phosphatidylserine (PS), a phospholipid that inhibits the ability of immune cells to recognize and fight tumors.
Other programs include a TLR9 activator, lefitolimod, and a VEGF-targeting antibody, varisacumab.