On January 5, 2023 Immune-Onc Therapeutics, Inc. ("Immune-Onc"), a private, clinical-stage cancer immunotherapy company developing novel biotherapeutics targeting myeloid checkpoints reported the close of an additional $25 million through a Series B extension, for a total of $131 million in Series B financing (Press release, Immune-Onc Therapeutics, JAN 5, 2023, View Source [SID1234625939]). This extension was led by existing investor Triwise Capital and with participation from new investors including Proxima Ventures, among others. In addition, the company has received continued strategic capital investments from The Leukemia & Lymphoma Society’s Therapy Acceleration Program (LLS TAP) and Wuxi Biologics HealthCare Venture.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Proceeds from the financing will be used to accelerate development of Immune-Onc’s lead clinical candidates, IO-108 and IO-202, and advance the selection of additional novel myeloid checkpoint inhibitor programs. Immune-Onc will provide additional corporate and clinical progress updates during 1:1 investor and prospective partner meetings at the upcoming J.P. Morgan 41st Annual Healthcare Conference.

"Immune-Onc had an incredible year of growth and development with two myeloid-checkpoint inhibitor programs progressing in the clinic in the U.S. and China for multiple types of cancer where great unmet needs remain," said Charlene Liao, Ph.D., founder, chief executive officer and board chair of Immune-Onc. "We are confident in the long-term growth prospects for Immune-Onc and believe that our progress this past year provides a compelling foundation for continued success in 2023. We are on track to deliver on several key milestones for our lead clinical candidates, including obtaining proof-of-concept results in leukemia and solid tumor expansion cohorts for IO-202 and IO-108, respectively, completing dose escalation for IO-202 in solid tumors, and further characterizing clinical biomarkers and/or mechanisms of actions for our checkpoint inhibitors that may ultimately lead to new clinical programs."

2022 Clinical & Corporate Highlights:

Clinical:

Dosed the first patient in the expansion cohorts of the company’s ongoing Phase 1 study for IO-108, a novel myeloid checkpoint inhibitor targeting Leukocyte Immunoglobulin-Like Receptor B2 (LILRB2, also known as ILT4) in adult patients with advanced or refractory solid tumors
Dosed the first patient with IO-108 in a Phase 1 clinical trial in China for patients with advanced solid tumors following the Center for Drug Evaluation of the China National Medical Products Administration approving the company’s Investigational New Drug application
Dosed the first solid tumor patient in the company’s Phase 1 clinical trial of IO-202, a first-in-class myeloid checkpoint inhibitor targeting Leukocyte Immunoglobulin-Like Receptor B4 (LILRB4, also known as ILT3)
Granted Fast Track designation by the U.S. Food and Drug Administration for IO-202 for the treatment of patients with relapsed or refractory acute myeloid leukemia

Corporate:

Entered a clinical supply agreement with Regeneron Pharmaceuticals, Inc. ("Regeneron") to evaluate IO-108 in combination with Regeneron’s anti-PD-1 therapy, Libtayo (cemiplimab), as part of its ongoing clinical development program in the U.S.
Entered into a clinical trial collaboration and supply agreement to evaluate IO-108 and IO-202 in combination with BeiGene’s anti-PD-1 antibody, tislelizumab, as part of its clinical development programs in China
Appointed Austin L. Gurney, Ph.D., and Barbara J. Klencke, M.D., to the company’s Board of Directors and Christopher Whitmore as chief financial officer
Won the 2022 BayHelix "R&D Achievement of the Year" award
Named the top 5 woman-led life science companies in the San Francisco Bay Area
Participation at upcoming industry panel:

The Future of Checkpoint Inhibitors and Immuno-Oncology at Fierce JPM Week on Jan 10.