OncoResponse – a clinical-stage biotech company advancing immunotherapies derived from the immune systems of Elite Cancer Responders – announced it has been awarded a $13 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT). The company also concurrently raised $14 million in new funding from existing investors, led by RiverVest Venture Partners and including ARCH Venture Partners, Canaan Partners, 3B Future Health Fund, Bering Capital, Takeda Ventures, InterVest and others.
The CPRIT award and investment is going to support the advancement of OR502, a best-in-class anti-LILRB2 antibody poised to move to IND and clinical studies. And the funds from the existing syndicate will also support continued advancement of the company’s lead immunotherapy candidate OR2805, a fully human monoclonal antibody identified from an Elite Responder using OncoResponse’s proprietary B-cell discovery platform. OR2805 is currently being evaluated in a Phase 1 clinical trial.
KEY QUOTES:
“We are thrilled to receive this recognition from CPRIT in supporting the potential of our immunotherapy candidate OR502. We greatly appreciate the additional support from our investors as we continue to make significant progress with our drug development efforts advancing immunotherapies derived from clues of Elite Responders. We are excited by the data generated to date supporting the ability of OR502 to modulate inhibitory macrophages in the tumor microenvironment and induce anti-tumor activity.”
— Clifford Stocks, Chief Executive Officer of OncoResponse
“We are pleased to support OncoResponse in their efforts to develop new and innovative immunotherapy treatments for cancer. The company has made significant progress in building their pipeline and we look forward to further insights from future clinical studies.”
— John McKearn, PhD, Managing Director of RiverVest Venture Partners
