Checkmate Pharmaceuticals Inc., a Cambridge, Mass.-based clinical stage biopharmaceutical company focused upon activation of innate immunity to treat advanced cancer, closed $22m in financing.
The round was led by a new investor, Decheng Capital, with participation from existing investors Sofinnova, venBio, and F-Prime.
The company intends to use the funds for ongoing clinical development of its lead product CMP-001 in advanced melanoma and non-small cell lung cancer (NSCLC) refractory to prior anti-PD-1 therapy, along with expansion into additional solid tumor types.
Led by newly appointed President and CEO Barry Labinger, with Arthur M. Krieg, MD, founder and current President and CEO, assuming the newly-created role of Chief Scientific Officer, Checkmate Pharmaceuticals is a clinical stage company that is leveraging its expertise in the field of CpG oligonucleotides to discover and develop immunotherapies designed to increase the efficacy of existing immunotherapies and to provide new treatment options for patients and their healthcare providers.
The company’s lead product candidate, CMP-001, is an investigational cancer immunotherapeutic that has been shown to reverse resistance to PD-1 therapy in some patients.