This tranche brings the total series B financing to $154 million. New investor Nomura phase4 Ventures participated in the financing along with existing OncoMed investors.
OncoMed investors include venture capital firms US Venture Partners, Latterell Venture Partners, The Vertical Group, Morgenthaler Ventures, Adams Street Partners, DeNovo Ventures and Bay Partners, as well as its strategic collaborator, GlaxoSmithKline.
Proceeds from the financing will support the advancement of OncoMed’s proprietary cancer stem cell antibody programs, including lead compound OMP- 21M18 and a second antibody, through Phase II clinical trials.
Paul Hastings, president and CEO of OncoMed, said: “We are pleased to have completed this financing and to add Nomura phase4 Ventures to our highly-regarded list of investors. These funds provide the company with multiple years of operating cash, and will enable OncoMed to take two cancer stem cell antibody therapeutics through Phase II clinical trials, as well as to expand our monoclonal antibody pipeline.”