Google Ventures has joined the funding fray for hot immunotherapy startup Armo Biosciences, whose immunotherapy – primed for combination use – is geared toward solid tumor cancers.
It’s developing cytokines and an anti-PD1 monoclonal checkpoint inhibitor for the treatment of advanced solid tumors. The funding will go largely to advance its lead compound, a therapeutic cytokine called AM0010, to the clinic – kicking off several phase 2/3 studies. It’s got applications as a single agent or combination therapy with chemotherapeutics or anti-PD1 monoclonal antibodies in treating melanoma, lung, renal, pancreatic, colorectal and breast cancers.
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AM0010 has already been tested in a large phase 1 study, treating more than 270 advanced cancer patients with the drug in either dose-escalating monotherapy or in combination with other cancer drugs. Results are expected soon, and the company’s saying this “may offer standard-of-care changing front-line options for these cancers.” Given the recent funding round – which includes oncology powerhouse Celgene – it’s paying attention to this company.
Other investors in the round include Kleiner Perkins Caufield & Byers, OrbiMed, DAG Ventures, NanoDimension, HBM Healthcare Investments, GV, Celgene Corporation, Industrial Investors Group and certain private investment funds. The company’s total funding since its 2012 launch now exceeds $100 million.
