US-headquartered Immune-Onc Therapeutics, Inc. has announced the successful completion of a Series B financing round totaling USD 131 million, including a USD 25 million extension. The extension was led by existing investor Triwise Capital, with participation from new investors such as Proxima Ventures. Additionally, the company received continued strategic capital investments from the Leukemia & Lymphoma Society’s Therapy Acceleration Program (LLS TAP) and Wuxi Biologics HealthCare Venture. The proceeds will be used to accelerate the development of Immune-Onc’s lead clinical candidates IO-108 and IO-202, as well as the selection of additional novel myeloid checkpoint inhibitor programs.
Company Overview and Pipeline
Immune-Onc is a private, clinical-stage cancer immunotherapy company dedicated to the discovery and development of novel myeloid checkpoint inhibitors for cancer patients. The company’s differentiated pipeline focuses on targeting the Leukocyte Immunoglobulin-Like Receptor subfamily B (LILRB) of myeloid checkpoints. Immune-Onc’s platform approach has led to the development of several promising therapeutics across various stages of development.
Key assets in Immune-Onc’s pipeline include:
- IO-108: An antagonist antibody targeting LILRB2 (also known as ILT4), currently in Phase 1 clinical development for solid tumors.
- IO-202: A first-in-class antagonist antibody targeting LILRB4 (also known as ILT3), in Phase 1 clinical development for the treatment of acute myeloid leukemia (AML), chronic myelomonocytic leukemia (CMML), and solid tumors.
- IO-106: A first-in-class antagonist antibody targeting LAIR1.
- IO-312: A bi-specific antibody targeting LILRB4.
- Multiple undisclosed programs for solid tumors and hematologic malignancies.
Future Outlook
The completion of the Series B financing round positions Immune-Onc to significantly advance its clinical programs and expand its pipeline of novel myeloid checkpoint inhibitors. With robust financial backing and a strong pipeline of promising therapeutics, Immune-Onc is poised to make a meaningful impact in the field of cancer immunotherapy. The company’s ongoing efforts in clinical development highlight its dedication to improving patient outcomes through innovative treatments.-Fineline Info & Tech
