Arch Oncology, Inc., a Brisbane, Calif. and St. Louis, MO-based clinical-stage immuno-oncology company focused on the discovery and development of anti-CD47 biologic therapies, closed a $105m Series C financing.
The round, announced in April 2021, was co-led by Eventide Asset Management, Cowen Healthcare Investments and current investor 3×5 Partners, who were joined by new investors Adage Capital Management, Point72 Asset Management, Avego Healthcare Capital, FMB Research and Broadfin Holdings. Existing investors include Roche Venture Fund, RiverVest Venture Partners, and Lightchain. In connection with the financing, Joy Ghosh, Ph.D., Senior Research Analyst at Eventide Asset Management, Eric Pham, Ph.D., Associate at Cowen Healthcare Investments, and Joe Biller, Managing Director at 3×5 Partners, will join Arch’s Board of Directors.
The company is using the funds to expand its development efforts.
Led by Laurence Blumberg, M.D., President and Chief Executive Officer, Arch Oncology is a clinical-stage immuno-oncology company focused on the discovery and development of biologic therapies for the treatment of patients with solid tumors and hematologic malignancies.
The company’s AO-176 is an anti-CD47 IgG2 antibody in Phase 1/2 clinical trials for the treatment of patients with select solid tumors and with hematologic malignancies, both as monotherapy and in combination with standard therapies. AO-176 works by blocking the “don’t eat me” signal enabled by CD47’s interaction with SIRPa and inducing phagocytosis.