ROCKVILLE, Md.--(EON: Enhanced Online News)--OncoImmune, Inc. today announced that is has closed on a $15.0 million Series A round of fundraising led by 3E Bioventures Capital (“3E”).
“We are excited to support development of this first in class product targeting negative regulation of innate immunity.”
The new capital will be used primarily to develop a novel clinical stage asset targeting the CD24-Siglec pathway that regulates host inflammatory response to tissue injuries, which has broad implications in the pathogenesis of autoimmune diseases, cancer and graft-versus-host disease (GvHD). OncoImmune will continue clinical testing of its lead clinical product, CD24Fc, in a Phase II trial for the prevention of acute GvHD following myeloablative allogeneic hematopoietic stem cell transplant. CD24Fc has received orphan drug designation for GvHD in both the US and Europe. The funding will also support development of other immuno-oncology (IO) assets with a focus on solid tumor targeting monoclonal antibodies, cancer vaccines, and immunotherapy-related adverse events.
“We are very excited that the new funding will allow us not only to move our clinical stage product forward, but also to further develop our rich IO pipeline,” said Yang Liu, OncoImmune CEO and cofounder.
“OncoImmune is driven by good science,” said Karen Liu, Partner of 3E. “We are excited to support development of this first in class product targeting negative regulation of innate immunity.”
About OncoImmune, Inc.
OncoImmune (www.oncoimmune.com) is a privately-held, clinical-stage biopharmaceutical company that is actively engaged in the discovery and development of novel immunotherapies for cancer, inflammation and autoimmune diseases. OncoImmune entered into a license and option agreement in 2016 with Pfizer Inc. regarding ONC-392, a pre-clinical IO program. OncoImmune is based in Rockville, Maryland.
About 3E Bioventures Capital.
3E Bioventures Capital (www.3ebiovc.com) is a China-US based healthcare focused venture investment firm. 3E seeks to invest in transformative innovations, focusing on novel therapeutics and the cross-disciplinary innovations between biotech and IT.