OncoImmune, Inc. today announced that is has closed on a $15.0 million Series A round of fundraising led by 3E Bioventures Capital (“3E”).
The new capital will be used primarily to develop a novel clinical stage asset targeting the CD24-Siglec pathway that regulates host inflammatory response to tissue injuries, which has broad implications in the pathogenesis of autoimmune diseases, cancer and graft-versus-host disease (GvHD). OncoImmune will continue clinical testing of its lead clinical product, CD24Fc, in a Phase II trial for the prevention of acute GvHD following myeloablative allogeneic hematopoietic stem cell transplant. CD24Fc has received orphan drug designation for GvHD in both the US and Europe. The funding will also support development of other immuno-oncology (IO) assets with a focus on solid tumor targeting monoclonal antibodies, cancer vaccines, and immunotherapy-related adverse events.