Aduro Biotech, a US-based biotechnology company devising treatments for pancreatic cancer, closed a $55m series C round yesterday, with Johnson & Johnson Development Corporation (JJDC), the corporate venturing arm of pharmaceutical firm Johnson & Johnson, participating as a new investor.
Investment firm Morningside Group also took part in the round alongside undisclosed new and existing investors. Aduro said it has now raised $84m in equity funding since it was founded in 2000.
JJDC’s investment comes two weeks after Johnson & Johnson subsidiary Janssen Biotech secured exclusive worldwide licensing rights for Aduro’s live-attenuated, double-deleted (LADD) immunotherapy platform.
Aduro plans to use the funds to advance Phase 2b clinical trials for its lead metastatic pancreatic cancer programme, as well as to continue work on other programmes.
“The financing will allow us to build on the momentum from the recent positive clinical data presented at [American Society of Clinical Oncology] in metastatic pancreatic cancer and mesothelioma and to expand our clinical development efforts into additional cancer types and combination therapies,” said Stephen T. Isaacs, Aduro’s chairman, president and CEO.