ImmuneOnco Biopharma raises RMB45m Pre-B for tumor immunotherapies

ImmuneOnco Biopharma announced the completion of a 45-million-yuan Series B financing round from Million Capital and Shijiazhuang High-tech Zone Pu’en Guoxin Equity Investment Center (Limited Partnership).

ImmuneOnco Biopharma announced the completion of a 45-million-yuan Series B financing round from Million Capital and Shijiazhuang High-tech Zone Pu’en Guoxin Equity Investment Center (Limited Partnership).

Tian Wenzhi, Chairman and General Manager of ImmuneOnco, said the proceeds will be mainly used to support clinical studies of two immunotherapy cancer candidates, IMM01 and IMM0306.

Established in 2015, ImmuneOnco Biopharma is a developer of tumor immunotherapy designed to reverse cancer cell-induced immune inhibition and to actively eradicate cancer cells. The company harnesses two types of innate immune cells, macrophages and natural killer (NK) cells to fulfill the cancer-killing task, enabling tumor patients to receive more effective treatments.

The company currently has 7 product pipelines, 4 of which have obtained international and domestic patents. The first target-activated CD47 fusion protein drug in China, IMM01, and the world’s first CD47 and CD20 dual-targeted antibody drug IMM0306 have obtained NMPA clinical trial licenses.

Previously, ImmuneOnco Biopharma has completed 3 financing rounds: angel round in April 2016, Pre-A in December 2017, and RMB100m Series A in April 2018.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/immuneonco-biopharma-raises-rmb45m-pre-b-for-tumor-immunotherapies/.

Leave a Reply

Please Login to Comment