Cold Genesys, Inc., a Newport Beach, CA clinical-stage biopharmaceutical company developing oncolytic immunotherapies for cancer, secured $13.57m Series A financing from Ally Bridge Group.
In conjunction with the transaction, David Nikodem, Ph.D., Managing Director and Head of Biopharma Investments at Ally Bridge Group, will join CGI Board as Director. Arthur Kuan, a founding member of Ally Bridge Group, will join CGI as Vice President of Research and Clinical Project Management.
The company intends to use the funds to deploy the capital to advance its ongoing Phase II/III BOND trial which is evaluating CG0070 in patients with high-risk carcinoma in situ non-muscle invasive bladder cancer (NMIBC).
Led by Dr. Alex Yeung, President and CEO, Cold Genesys advances CG0070, an engineered oncolytic virus that contains a cancer-specific promoter and a GM-CSF transgene. This combination leads to tumor-specific oncolysis and induces an adaptive anti-tumor immune response that may synergize with immune checkpoint modulators. In addition to bladder cancer, it is believed that CG0070 will have activity across other solid tumors.
The BOND trial is being conducted under a Special Protocol Assessment (SPA) from the U.S. Food and Drug Administration and began enrolling patients at 10 major cancer centers in the U.S. in March 2014.
FinSMEs
31/07/2014