Immune-Onc Therapeutics, Inc. Announces $7 Million Series A Financing

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Sep 01, 2016, 08:18 ET

PALO ALTO, Calif., Sept. 1, 2016 /PRNewswire/ -- Immune-Onc Therapeutics, Inc. ("Immune-Onc"), a newly formed biopharmaceutical company focused on advancing promising immuno-oncology therapeutics, announced a Series A financing of $7 million. Major investors include Fame Mount Limited and CLI Ventures. The financing will support discovery and development of novel antibodies with breakthrough potential in the area of cancer immunotherapy.

"Immuno-oncology drugs are transforming cancer care worldwide. We are grateful for the support of our Series A investors who share our vision to pursue novel therapeutic antibodies targeting the immune system and tumor microenvironment," said Charlene Liao, Ph.D., Chief Executive Officer of Immune-Onc. "Our immuno-oncology programs leverage the latest scientific insights to advance new treatment options for cancer patients."

Immune-Onc was co-founded by Charlene Liao, Ph.D., who serves as its President and CEO, and Guo-Liang Yu, Ph.D., a serial entrepreneur and industry veteran. Dr. Liao was Project Team Leader at Genentech, a member of the Roche Group, where she spent nearly 14 years leading oncology and immunology drug development programs from preclinical to Phase 3. Dr. Liao was a Fellow of the Damon Runyon Cancer Research Foundation and a Special Fellow of the Leukemia and Lymphoma Society. Dr. Yu was the co-founder and CEO of Epitomics Inc., an antibody company acquired by Abcam for $170 million. He currently holds numerous board and management positions, including Executive Chairman of Crown Bioscience Inc., a leading oncology platform company, and Venture Partner of OrbiMed, a healthcare and life sciences-dedicated investment firm.

About Immune-Onc Therapeutics, Inc.

Immune-Onc Therapeutics, Inc. ("Immune-Onc") is a newly established biopharmaceutical company focused on developing innovative therapeutic antibodies for cancer treatment. The Company is applying the latest scientific insights and expertise in drug development to advance novel immuno-oncology products and bring new treatment options to cancer patients. The company was founded in 2016 with headquarters in Palo Alto, California. www.immune-onc.com.

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SOURCE Immune-Onc Therapeutics, Inc.