March 30, 2021 (Palo Alto, California) ─ Immune-Onc Therapeutics, Inc. (“Immune-Onc”), a clinical-stage cancer immunotherapy company developing novel biotherapeutics targeting immunosuppressive myeloid checkpoints today announced the closing of a $73 million Series B1 and B2 financing. China eCapital Partners, the US affiliate of CEC Capital Group, a leading Asia-based investment bank, advised Immune-Onc Therapeutics on the transaction.
The round was led by Oceanpine Capital with participation from additional new investors including Octagon Capital and Sphera Healthcare, and existing investors, including Northern Light Venture Capital and Vivo Capital. In conjunction with this round of financing, Oceanpine CEO and managing partner Dave Chenn joins the Immune-Onc Board of Directors. In addition, the company received a strategic capital investment from The Leukemia & Lymphoma Society’s Therapy Acceleration Program® (LLS TAP), directed toward advancing the company’s work to treat blood cancers.
Proceeds from the financing will allow Immune-Onc to advance its portfolio of blood cancer and solid tumor immunotherapies targeting myeloid checkpoints with a focus on the LILRB family. Immune-Onc has raised more than $110 million from investors since the company began operations in 2016. In August 2020, the company announced it had been awarded a Small Business Innovation Research (SBIR) grant from the National Cancer Institute (NCI) of the National Institutes of Health (NIH) to support clinical development of IO-202.
About Immune-Onc Therapeutics
Immune-Onc Therapeutics, Inc. (“Immune-Onc”) is a clinical-stage cancer immunotherapy company dedicated to the discovery and development of novel myeloid checkpoint inhibitors for cancer patients. Headquartered in Palo Alto, California, Immune-Onc has assembled a diverse team with deep expertise in drug development and proven track records of success at leading biotechnology companies.
The company aims to translate unique scientific insights in myeloid cell biology and immune inhibitory receptors to discover and develop first-in-class biotherapeutics that disarm immune suppression in the tumor microenvironment. Immune-Onc has a promising pipeline with a current focus on targeting the Leukocyte Immunoglobulin-Like Receptor subfamily B (LILRB) of myeloid checkpoints. The company has strategic research collaborations with The University of Texas, Albert Einstein College of Medicine, and Memorial Sloan Kettering Cancer Center, and has invested in proprietary models, assays and tools to interrogate the biology and translate this cutting-edge research into the development of novel therapies.
About China eCapital Partners, LLC
China eCapital Partners, LLC (CEC Capital) is the US affiliate of CEC Capital Group and has offices in Los Angeles and San Francisco. CEC Capital provides M&A and private placement advisory services to clients in the TMT, consumer and healthcare sectors. As the US affiliate of CEC Capital Group, CEC Capital facilitates cross-border transactions involving the Asia-Pacific markets, including Greater China, Japan, South Korea, and Southeast Asia.
For more information, please visit www.ceccapitalus.com.
About CEC Capital Group
Founded in 2000, CEC Capital Group (formerly known as China eCapital Corporation) is a leading private investment bank in China with a core focus on the TMT, consumer and healthcare sectors. Headquartered in Beijing with offices in Shanghai, the Company provides M&A, private placement, and asset management services to its clients both in and outside of China. To ensure that clients receive the most comprehensive buy-side coverage, its ECM team has established close contact with over 3,000 institutional investors in China, ranging from large conglomerates and A-share listed companies to established financial institutions, and asset management firms.
For more information, please visit www.ceccapitalgroup.com.