Coronado Biosciences, a New York, NY-based biopharmaceutical company focused on novel immunotherapy agents for inflammatory diseases and cancer, has closed a $25.8m Series C financing.
The round was led by National Securities Corporation.
The company intends to use the funds to advance its pipeline, including funding a Phase II study of the company’s lead development candidate, CNDO-201 for the treatment of Crohn’s Disease and a Phase I/II study of CNDO-109 for the treatment of relapsed Acute Myeloid Leukemia (AML).
CNDO-109 is a novel anti-cancer drug that primes natural killer (NK) cells without the need for cytokine (IL-2) treatment and shows significant potential for the treatment of hematological and solid tumors. It has produced results in a Phase I clinical trial in patients with AML and demonstrated preclinical activity in multiple myeloma, breast cancer, prostate cancer and ovarian cancer.
CNDO-201, which is also in development for other autoimmune diseases, including ulcerative colitis and multiple sclerosis, is a novel, orally administered, natural immunomodulator that regulates T-Cells and inflammatory cytokines.
Founded in 2006, the company si currently led by President and CEO Bobby W. Sandage, Jr., PhD.