Ouro Medicines, the licensee of China-based Keymed Biosciences Inc.’s (HKG: 2162) CM336, has successfully launched with a USD 120 million Series A financing round. The California-headquartered biotech, founded by Monograph Capital in partnership with GSK plc (NYSE: GSK), saw the funding co-led by TPG Life Sciences Innovations, NEA, and Norwest Venture Partners. Additional participants included Monograph Capital, GSK, UPMC Enterprises, Boyu/Zoo Capital, LongRiver Investments, and other unnamed investors. This significant funding round positions Ouro Medicines to advance the development of its core product, CM336/OM336.
Core Product and Development
Ouro Med’s core product, CM336/OM336, is a BCMA/CD3 targeted bispecific antibody (BsAb) in-house developed by Keymed Bio. The product is currently undergoing a Phase II expansion study in China for the treatment of multiple myeloma. This innovative therapy has the potential to significantly impact the treatment landscape for multiple myeloma, a complex and challenging disease.
License Agreement and Global Rights
In November of last year, Keymed Bio struck a potential USD 620 million license deal with Platina Medicines Ltd (PML), which is wholly owned by Ouro Med. The agreement granted Ouro Med exclusive development, manufacturing, and commercialization rights to CM336 globally, excluding mainland China, Hong Kong, Macau, and Taiwan. This strategic move ensures that Ouro Medicines has the necessary resources and rights to bring CM336 to patients in need worldwide.
Future Prospects
The successful Series A financing round and the strategic license agreement with Keymed Bio provide Ouro Medicines with a strong foundation to advance the clinical development of CM336/OM336. With the support of leading investors and the expertise of its partners, Ouro Medicines is well-positioned to make significant strides in the development of novel therapies for multiple myeloma and potentially other related diseases.-Fineline Info & Tech
