OncoResponse Secures $7M in Supplemental Series A Funding
-- $7M towards supplemental goal of $10M, with total raise expected to be $22.5M --
HOUSTON, Texas – October 10, 2016 – OncoResponse, an immuno-oncology antibody discovery company, today announced that it has raised $7 million in a supplemental Series A financing, consisting of a $3.5 million investment from GreatPoint Ventures and a $3.5 million investment from the Helsinn Investment Fund.
In October 2015, OncoResponse secured $9.5 million as part of an initial closing of its Series A financing co-led by ARCH Venture Partners, Canaan Partners and MD Anderson, with William Marsh Rice University and Alexandria Real Estate Equities also participating. An additional $3 million investment by Baxalta (now Shire) in May 2016, along with the recent investments by GreatPoint and Helsinn, bring the total Series A financing to $19.5 million, which will be used to support OncoResponse’s ongoing efforts to interrogate the humoral response of elite responders to cancer immunotherapy to identify antibodies and potential targets for novel therapeutic development.
OncoResponse utilizes a clinically validated platform technology to rapidly screen antibodies made by the human immune system and identify those with exceptional reactivity to cancer immunotherapy. The company has an ongoing strategic alliance with the MD Anderson Cancer Center, which provides access to patient samples and oncology and translational medicine expertise including clinical and regulatory input.
“We are pleased to welcome GreatPoint and Helsinn Investment Fund to our solid team of investors,” said Clifford J. Stocks, CEO of OncoResponse. “These additional funds will support the continued progression of our research programs that aim to identify therapeutically relevant antibodies from patients with elite response to cancer immunotherapy in a number of oncology indications.”
“OncoResponse is using innovative technology to develop a deeper understanding of the immune response to cancer immunotherapy,” said Andrew Perlman, Co-Founder and Managing Partner of GreatPoint Ventures. “At GreatPoint, we look for companies with uniquely advantaged approaches to solving frustrating problems, and OncoResponse’s pioneering approach to novel target and antibody discovery from elite responders is directly in line with our investment strategy.”
“This investment is an excellent example of Helsinn’s focus on early-stage investments in areas of high unmet patient need,” said Roberto De Ponti, Pharm.D., Head of Corporate New Ventures and Strategic Investments at Helsinn International Services. “We are proud to be able to support OncoResponse in its mission to address an unmet medical need in patients who are partial or non-responders and expand the promise of immunotherapy.”
About GreatPoint Ventures
GreatPoint Ventures is a thesis driven venture capital firm that invests in innovative solutions to important global problems. Comprised of entrepreneurs and operators, GreatPoint actively collaborates with founders and their teams to build great businesses. www.gpv.com
About Helsinn Investment Fund
The Helsinn Investment Fund is focused on early-stage investments in areas of high unmet patient need. Backed by the Helsinn Group, and guided by Helsinn’s core values of quality, integrity and respect, Helsinn Investment Fund aims to help companies with innovative technologies to transform new ideas into commercial solutions with the potential to impact health-related quality of life of patients.
Drawing on Helsinn’s 40 years of investment into research and development and commercial expertise, the investment fund selects companies with technologies in a range of areas including cancer therapeutics and diagnostics, cancer supportive care, metabolic and gastrointestinal disorders, and dermatology conditions. For more information, visit www.helsinninvestmentfund.com
OncoResponse mines the human adaptive immune system to discover therapeutic antibodies against novel immuno-oncology targets. By identifying candidates from the immune systems of patients who have responded exceptionally well to cancer immunotherapies, OncoResponse has the potential to increase the success rate of these therapies across multiple cancer types. www.oncoresponse.com.