OncoResponse, a US-based immunotherapy developer for cancer, has raised $40.6m in its series C round from a consortium including 3B Future Health Fund (Helsinn Investment Fund), the investment vehicle for cancer drug developer Helsinn Group.
Magnetar Group, Yonjin Venture and Bering Capital joined ther C round as new investors along with existing shareholders, RiverVest Venture Partners, Qatar Investment Authority (QIA), Redmile Group, Canaan Partners and Arch Venture Partners.
Ted Koutouzis, managing director at Magnetar Group, Daguang Wang from Yonjin Venture and Patrick Joseph Hojlo from Qatar Investment Authority will join OncoResponse’s board.
OncoResponse is developing antibodies intended to harness the body’s immune system to combat specific cancer targets. It was spun out of MD Anderson, the cancer research and treatment centre owned by University of Texas.
Koutouzis said: “We are very excited to join the OncoResponse syndicate to further advance the cancer immunotherapies emanating from this unique discovery platform.”
Proceeds will be used to advance the Company’s lead antibody, OR2805, into clinical development in multiple tumour types and fund a pipeline of preclinical assets.
In September 2018, OncoResponse closed a $40m series B round featuring Helsinn Investment Fund.
RiverVest Venture Partners led the round, which included Alexandria Venture Investments, a subsidiary of real estate investment trust Alexandria Real Estate Equities, as well as Arch Venture Partners, HT Family Office, Canaan Partners, Qatar Investment Authority, Redmile Group and William Marsh Rice University.
The company completed a $22.5m series A round in March 2017 that included Helsinn Investment Fund and Alexandria Real Estate Equities as well as $3m from Baxalta, the biopharmaceutical company latterly acquired by pharmaceutical firm Shire.
HT Family Office, GreatPoint Ventures, Arch Venture Partners, Canaan Partners William Marsh Rice University and MD Anderson also participated in the series A round.
