ImmuneOnco announced completion of 70 million yuan pre-B+ round financing
On August 25, 2020, ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd. announced that it had completed the pre-B+ round financing of RMB 70 million, which was exclusively invested by Gongqingcheng Ruiji phase III.
"The financing is mainly used for the clinical trial research of IMM01 (SIRPa-Fc) project and IMM0306 (CD47xCD20 mAb-Trap) project. At present, the clinical trials of these two projects are progressing smoothly according to the original plan. We believe that CD47 is the most promising new generation of immune checkpoint besides PD-(L)1, while our project has natural safety advantages, does not cause obvious blood toxicity, and has the characteristics of single drug effective. Dr. Tian Wenzhi, founder and chairman of the company, said: "ImmuneOnco is committed to the development and research of products in the field of anti-tumor immunotherapy. The success of this round of financing provides a strong guarantee for the rapid progress of clinical trials. We are grateful for the high recognition of our team and project by Gongqingcheng Ruiji phase III, and we also welcome other investment institutions to join us. We firmly believe that with its rich product pipeline, unique R&D technology platform and clinical development strategy, we will have great investment potential and market prospect. ".
ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd. was founded in June 2015 and registered in Zhangjiang High Tech Park, Shanghai. The company is mainly committed to the development and research of tumor immunotherapy products, including bispecific antibodies, new recombinant proteins, and TNAKTM cell therapy. The company's first product, IMM01, and its second product, IMM0306, are in phase I clinical trial study. Several other double target specific protein drugs are in preclinical research stage.
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