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Immune-Onc Therapeutics Announces Close Of Series B Extension Financing, Bringing Total Round To $131 Million

PRIVATEJan 05, 2023

Round Type

Series B

Palo AltoBiotechnologyHealth CareTherapeutics

Investors

Wuxi Biologics Health Care VentureProxima VenturesTriwise Capital

Description

Immune-Onc Therapeutics, Inc. (“Immune-Onc”), a private, clinical-stage cancer immunotherapy company developing novel biotherapeutics targeting myeloid checkpoints today announced the close of an additional $25 million through a Series B extension, for a total of $131 million in Series B financing. 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.

Quick answer

Immune-Onc Therapeutics raised an undisclosed amount in a Series B round, dated January 5, 2023. Investors: Wuxi Biologics Health Care Venture, Proxima Ventures and Triwise Capital. Immune-Onc Therapeutics is based in Palo Alto, California, United States.

How much did Immune-Onc Therapeutics raise?
Immune-Onc Therapeutics raised an undisclosed amount in a Series B round on January 5, 2023.
Who invested in Immune-Onc Therapeutics?
Wuxi Biologics Health Care Venture, Proxima Ventures and Triwise Capital are named as investors in this round.
What does Immune-Onc Therapeutics do?
Immune-Onc Therapeutics Inc. (“Immune-Onc”) is a private, clinical-stage cancer immunotherapy company dedicated to the discovery and development of novel myeloid checkpoint inhibitors for cancer patients.
Where is Immune-Onc Therapeutics based and how big is it?
Immune-Onc Therapeutics is based in Palo Alto, California, United States.

Source: Fundz verified event record.

Who else raised in Therapeutics and Biotechnology around the same time

Companies in the same sectors as Immune-Onc Therapeutics that raised within 45 days of this round, from Fundz verified event records.

  • Pathos AI raised $20M on February 17, 2023.
  • Alpha Cognition raised $1.8M (Seed) on February 16, 2023.
  • Disc raised $63M (Funding Round) on February 14, 2023.
  • Provention Bio raised $35M on February 13, 2023.
  • Cerevance raised an undisclosed amount (Series B) on February 13, 2023.
  • Chroma Medicine raised $135M on February 8, 2023.

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Company Information

Company

Immune-Onc Therapeutics

Location

Palo Alto, California, United States

About

Immune-Onc Therapeutics Inc. (“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 aims to translate unique scientific insights in myeloid cell biology and immune inhibitory receptors to discover and develop first-in-class biotherapeutics that reverse immune suppression in the tumor microenvironment. Immune-Onc has a differentiated pipeline with a current focus on targeting the Leukocyte Immunoglobulin-Like Receptor subfamily B (LILRB) of myeloid checkpoints. Immune-Onc’s focused platform approach has led to the development of several promising therapeutics across various stages of development. Those include IO-108, an antagonist antibody targeting LILRB2 (also known as ILT4), in Phase 1 clinical development for solid tumors and 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. Additional assets in Immune-Onc’s pipeline include IO-106 (first-in-class antagonist antibody targeting LAIR1), IO-312 (bi-specific antibody targeting LILRB4), and multiple undisclosed programs for solid tumors and hematologic malignancies. Immune-Onc has established agreements with leading biopharmaceutical companies, including BeiGene and Regeneron, to support its global product development plans for IO-108 and IO-202. It has received research grants from the National Cancer Institute (NCI) of the National Institutes of Health (NIH) and the California Institute for Regenerative Medicine (CIRM) and investment from The Leukemia & Lymphoma Society Therapy Acceleration Program® (LLS TAP®). Headquartered in Palo Alto, California, Immune-Onc has assembled a diverse team with deep expertise in drug development and proven track records of success at leading biopharmaceutical companies. For more information, please visit www.immune-onc.com and follow us on Twitter and LinkedIn.

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Funding Insights

What this usually means
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach

Immune-Onc Therapeutics raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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