— Financing to Advance Lead Anti-CD47 Antibody AO-176 in Ongoing Phase
1 Clinical Trial and Pipeline —
BRISBANE, Calif. and ST. LOUIS–(BUSINESS WIRE)–Arch Oncology, Inc., a clinical-stage immuno-oncology company focused on
the discovery and development of best-in-class anti-CD47 antibody
therapies, today announced a successful $50 million Series B financing.
The Company plans to use the proceeds from this financing to advance its
anti-CD47 antibody AO-176’s ongoing Phase 1 clinical trial in select
solid tumors, as well as its pipeline.
This financing included Arch Oncology’s existing investors, RiverVest
Venture Partners, Roche Venture Fund, and 3×5 Partners, and was led by
new investor Lightchain (Scottrade Founder and former CEO Rodger Riney’s
family office).
“Our investors share our commitment to the exciting work we are doing to
develop best-in-class antibodies aimed at improving treatment options
for patients with cancer,” said Julie M. Cherrington, Ph.D., President
and Chief Executive Officer of Arch Oncology. “This financing supports
our ongoing Phase 1 clinical trial for AO-176, our highly-differentiated
anti-CD47 antibody, as we continue to dose patients. Additionally, these
proceeds enable us to advance our discovery-stage pipeline. With the
backing of our investors and the hard work of our experienced team, we
look forward to developing new cancer treatment options for patients.”
“Over the past year, the Arch Oncology team under Julie’s leadership has
successfully executed on plans to advance AO-176 from the laboratory,
through IND submission, and into the clinic,” said John McKearn, Ph.D.,
Managing Director, RiverVest Venture Partners and Chairman of the Board
of Arch Oncology. “We believe AO-176 has a best-in-class profile among
agents in the anti-CD47 space and we are excited to see the progress
advancing the pipeline.”
About Arch Oncology
Arch Oncology, Inc. is a privately-held, clinical-stage immuno-oncology
company focused on the discovery and development of best-in-class
antibody therapies for the treatment of patients with cancer. The
Company’s next-generation anti-CD47 antibodies are highly
differentiated, with the potential to improve upon the safety and
efficacy profile relative to other agents in this class. Arch Oncology’s
lead product candidate AO-176 is in a Phase 1 clinical trial for the
treatment of patients with select solid tumors. In addition, the Company
is advancing a number of pipeline programs, including anti-signal
regulatory protein (SIRP) antibodies. Arch Oncology’s leadership team
has successfully developed new drugs for patients before and is backed
by leading investors, including RiverVest Venture Partners, Roche
Venture Fund, 3×5 RiverVest Partners II-B, and Lightchain. For more
information please visit www.archoncology.com.
Contacts
Amy Figueroa
For Arch Oncology
afigueroa@archoncology.com
650-823-2704