Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Biopharmaceutical firm Rondo Therapeutics has raised $67m in a Series A financing round to advance next-generation immuno-oncology platform to treat solid tumours.
Rondo plans to use the funds to support the development of new immune stimulatory bispecific antibody therapeutics to treat solid tumours. Credit: National Cancer Institute on Unsplash.
Subscribe to our email newsletter
Co-led by Canaan Partners and Red Tree Venture Capital, the financing round included significant investment from Johnson & Johnson Innovation – JJDC.
SV Health Investors and Novo Holdings are some of the additional investors in the round.
Rondo intends to use the funds to continue its preclinical pipeline development to advance the company’s lead bispecific antibody candidates toward the first Phase I clinical trials.
With a focus on treating solid tumours, the company is committed to advance the immuno-oncology field.
It focuses on addressing the significant unmet requirement for new immunotherapy approaches which have the capability to treat solid tumours.
By engaging the immune system of a patient for eliminating tumour cells, the T-cell engagers and other bispecific antibodies have succeeded in treating hematologic cancers, the company noted.
Rondo Therapeutics co-founder and chief scientific officer Nathan Trinklein said: “T-cell engagers targeting CD3 have successfully exploited the first signal in T-cell receptor signalling to treat liquid tumours, significantly expanding the treatment options for these cancers.
“However, solid tumours represent a much greater unmet clinical need that has yet to benefit from advances in immune-engaging bispecific antibodies.
“At Rondo we are building an exceptional team supported by world-class investors to develop unique bispecific platforms that stimulate a variety of downstream immune pathways with the intent of treating solid tumours.”
Furthermore, the company is committed to use its immuno-stimulatory platform for the development of therapies to treat solid tumours.
