Ottimo Pharma – a private biotech company pioneering bifunctional medicines to extend the lives of people with cancer – announced the completion of a Series A financing round of over $140 million. The funding round was led by OrbiMed, Avoro Capital, Samsara BioCapital. It included blue chip investors RTW Investments, Decheng Capital, Janus Henderson Investors, J.P. Morgan Life Sciences Private Capital, Invus, and founding investor Medicxi. In connection with the financing, Peter Thompson (OrbiMed), Mark Chin (Avoro Capital), and Srini Akkaraju (Samsara BioCapital) will join the Board of Directors.
This funding will accelerate the lead asset, Jankistomig, a first-in-class PD1/VEGFR2 bifunctional antibody for multiple solid tumor indications in both IV and SC forms, and a pipeline of follow-on bifunctional assets.
Ottimo has also expanded its management team under the leadership of David Epstein, Chair and Chief Executive Officer. The company announces the appointment of Rick Anderson as SVP of Finance, Spencer Fisk as Chief Technical and Quality Officer, and Ling Zeng as General Counsel and EVP of Execution. Rick, Spencer, and Ling bring extensive pharma experience, having held senior roles at Seagen, Novartis, and Dicerna Pharmaceuticals.
Ottimo, co-founded by Medicxi and Jonny Finlay, emerged from stealth in October 2024. It is advancing IND-enabling studies for lead molecule Jankistomig, with a planned IND filing in late 2025.
Jankistomig is a first-in-class PD1/VEGFR2 bifunctional antibody differentiated from bispecific antibodies. It is exquisitely designed as a dual pathway and biparatopic single-agent IgG therapy, targeting immune checkpoint inhibition and angiogenesis in cancer treatment.
This approach offers a wider therapeutic window regardless of tumor VEGF levels, potentially improving outcomes across multiple solid tumor indications. Jankistomig is expected to address a global oncology market valued at over $50 billion.
Fredric (Rick) Anderson has over 30 years of leadership experience in strategic financial and operations management. And Rick was the Vice President, Corporate Controller for Seagen from 2018, supporting the company’s growth and international expansion. And he was a key member of the leadership team that led the $44 billion acquisition by Pfizer and supported the post-acquisition integration. Rick holds an MBA from the University of San Diego. He started his career as a CPA for Ernst & Young and later joined their mergers & acquisition group.
Spencer Fisk has over 30 years of experience in manufacturing and CMC product development. Spencer joins Ottimo from National Resilience, Inc. where he transformed the R&D focus to deliver on disruptive approaches to accelerate multi-modality drug development. And from 2018 to 2022, he served as the Chief Technical Operations Officer at Rubius Therapeutics. Before Rubius, he held senior roles at Novartis AG, where he led the team to successfully register and launch the first CAR-T cellular therapy product, Kymriah. Before Novartis, Spencer held various technical development and manufacturing roles at Merck, Genentech, Genencor, and Novo Nordisk.
Ling Zeng, Esq. was previously Chief Legal and Administrative Officer and a member of the executive leadership team of Omega Therapeutics. Before Omega, she was the Chief Legal Officer and Secretary of Dicerna Pharmaceuticals. She played a critical role in executing the Company’s strategy, including the $3.3 billion acquisition by Novo Nordisk in 2021. Before working in biotech companies, Ling was Deputy Head Legal, Group Mergers and Acquisitions, at Novartis AG, responsible for global transactions across the Novartis Group. From 2009 to 2017, Ling held various executive roles of increasing responsibility at Bausch Health Companies.
KEY QUOTES:
“The successful completion of our Series A financing marks a milestone for Ottimo as we advance our goal to make first-in-class bifunctional medicines to extend the lives of people living with cancer. Jankistomig represents a significant breakthrough with its novel design and mechanism of action, and we are incredibly grateful to have the backing of such well-renowned healthcare investors. With the addition of Rick, Spencer, and Ling, we have assembled a proven leadership team to progress Ottimo to our first IND by late 2025.”
- David Epstein, Chair & Chief Executive Officer of Ottimo Pharma
“Ottimo’s unique approach has differentiated itself in the PD1/VEGF field. We are looking forward to working alongside this experienced team with their extensive track record to develop new cancer treatments with improved outcomes for patients.”
- Peter Thompson, General Partner at OrbiMed, Board Director of Ottimo Pharma
“Ottimo has shown considerable progress with Jankistomig. As a co-founder of the Company, we are pleased to welcome top-tier investors including OrbiMed, Avoro Capital, and Samsara BioCapital to the syndicate as we advance the pipeline to address multiple solid tumor indications.”
- Francesco De Rubertis, Co-Founder and Partner at Medicxi, Board Director of Ottimo Pharma
