Corvus Pharmaceuticals, a US-based immuno-oncology therapy developer, has closed a $75m series B round featuring Roche Venture Fund and Novo Ventures, subsidiaries of pharmaceutical firms Roche and Novo.
The round was led by Rock Springs Capital Management and included Fidelity Management and Research Company, Blackrock, T. Rowe Price, Jennison Associates, Cormorant Asset Management, Sphera Funds Management, VenBio Select, Cowen Private Investments, Orbimed and Adams Street Partners.
Cowen & Company advised Corvus for the transaction, which was backed by 33 investors, according to Med City News.
Established in 2014, Corvus is developing cancer treatments including a lead drug candidate that has successfully completed human safety trials. The therapy helps the human body’s immune system to identify tumours as hostile and attack them.
The drug is set to enter a Phase 2b clinical trial in patients with solid tumours early next year.
Venture capital firm OrbiMed Advisors led a $33.5m series A round for Corvus in December 2014 that also featured Novo’s corporate venturing arm, Novo Ventures, and private equity firm Adams Street Partners.
– The article has been updated from an earlier version published on 28th September.