US-based cancer immunotherapy developer CG Oncology has closed a $47m series D round led by drug producer Kissei Pharmaceutical that included Ori Healthcare Fund, Camford Capital and Perseverance Capital Management.
Founded in 2010 as Cold Genesis, CG Oncology is working on oncolytic immunotherapies, a type of treatment that uses viruses to infect and destroy cancer cells. Its drug candidates are genetically engineered to launch multi-pronged attacks on advanced forms of cancer.
The series D cash will progress late-clinical research on the company’s lead candidate, CG0070 across multiple indications, including a current phase 3 trial targeting certain resistant forms of non-muscle invasive bladder cancer.
CG0070 is also being examined as a combination treatment with an existing cancer drug called Keytruda for the same indication, as well as with chemotherapy medication Opdivo for treatment-resistant forms of muscle-invasive bladder cancer.
CG Oncology raised $14.5m of series A funding in 2014 from private equity firm Ally Bridge Group before closing a $10m series B co-led by Ally Bridge and WI Harper Group and backed by Whitesun Healthcare Ventures and Ori Healthcare Fund partner Song Hong Fang the following year.
Ori Healthcare Fund subsequently led a $22m series C for CG Oncology in March 2019, closing the round with participation from Perservance Capital Management and undisclosed additional investors.