This Company Receives $57M to Develop Next-Gen Immunotherapy Platform of Oncolytic Viruses
Oncorus Inc., a new immuno oncology company based in Cambridge, Massachusetts, USA announced the successful completion of a $57 million series A financing.
The company is mainly involved in the development of next-generation immunotherapy platform of oncolytic viruses. These viruses can be used for the treatment of several tumour types, including highly malignant and aggressive tumours like Glioblastoma multiforme (GBM).
The group of investors were led by MPM Capital, with equal contributions from MPM BV2014 and the Oncology Impact Fund. Other investors include Deerfield Management, Arkin Bio Ventures, Celgene, Inc., Excelyrate Capital, Long March Investment Fund and MPM’s SunStates Fund.
The financing round will be used towards the advancement of Oncorus’s immunotherapy platform using its next generation oncolytic herpes simplex virus (oHSV).
“Oncorus’s next-generation immunotherapy platform is extremely innovative and could potentially help many thousands of patients diagnosed with deadly cancers such as glioblastoma. We are pleased to have an outstanding group of co-investors supporting this experienced management team to advance what we believe could become a new paradigm in cancer treatment.”–Luke Evnin, Ph.D., MPM Capital co-founder and Chairman of Oncorus’s Board of Directors
Leading the management team as Chief Executive Officer and Chief Scientific Officer is industry veteran and Oncorus co-founder Mitchell H. FInn, Ph.D.. He is also part of the Board of Directors, which comprises of the following other members: Dr. Evnin; Briggs Morrison, CEO, Syndax; Cameron Wheeler, Ph.D., Principal, Deerfield Management; and, Alon Lazarus, Ph.D., Biotech Investment Manager, Arkin Bio Ventures.
Renowned scientists Joseph Glorioso III, Ph.D., and Paola Grandi, Ph.D. will join Oncorus’s Scientific Advisory Board. At present, the main focus of the company is on the preclinical development for GBM. In addition to this, the company also aims to expand its technology platform and foster development pipeline programs in other forms of cancer.