Art Krieg’s Checkmate executes a snappy 1-2 biotech gambit — big crossover followed by an instant IPO
Just as expected, Checkmate’s $85 million venture raise a few weeks ago was a prequel to the latest biotech IPO to hit the queue on Wall Street.
The company, founded by Checkmate CSO Art Krieg, penciled in a $75 million raise this time, but likely has its sights set on a much larger sum — in keeping with the upsizing now characteristic of the biotech class.
Now in mid-stage development after a 5-year leadup, the company is hyper-focused on one drug: CMP-001, which contains a CpG-A oligonucleotide that activates the TLR9 pathway to kick up an innate immune response to cancer.
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