Going head-to-head with Merck on I/O, Genentech vets raise fresh round and enter clinic
Three years after convincing two ex-Genentech colleagues to join her on a hunt of a new form of immuno-oncology, Charlene Liao and her startup, Immune-Onc, are in the clinic and armed with a new round of cash to push the lead candidate through.
Immune-Onc announced on Tuesday $73 million in new funding, which they’re calling a Series B1 and B2 round, to fund a clinical trial for lead candidate IO-202 for acute myeloid leukemia, and advance a pipeline of immune-modifying cancer treatments that is increasingly putting them in competition with bigger rivals, including Merck. The round was led by Oceanpine Capital, a Chinese tech and biotech-focused VC.
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