OncoResponse, a clinical-stage biotech company focused on advancing immunotherapies derived from Elite Cancer Responders’ immune systems, announced today that it has been granted a $13 million award from the Cancer Prevention and Research Institute of Texas (CPRIT). Simultaneously, the company raised an additional $14 million in funding from its existing investors, with RiverVest Venture Partners leading the round. Other participating investors included ARCH Venture Partners, Canaan Partners, 3B Future Health Fund, Bering Capital, Takeda Ventures, InterVest, and others.
The financial support from CPRIT and the investment from existing backers will be utilized to advance the development of OR502, an anti-LILRB2 antibody that demonstrates great potential and is poised to progress to investigational new drug (IND) and clinical studies. The funding will also contribute to the continued advancement of OR2805, OncoResponse’s lead immunotherapy candidate. OR2805, a fully human monoclonal antibody identified through the company’s proprietary B-cell discovery platform, is currently undergoing evaluation in a Phase 1 clinical trial.
Clifford Stocks, Chief Executive Officer of OncoResponse, expressed enthusiasm for the recognition and support received. He stated, “We are thrilled to receive this recognition from CPRIT in supporting the potential of our immunotherapy candidate OR502. We greatly appreciate the additional support from our investors as we continue to make significant progress with our drug development efforts advancing immunotherapies derived from clues of Elite Responders. We are excited by the data generated to date supporting the ability of OR502 to modulate inhibitory macrophages in the tumor microenvironment and induce anti-tumor activity.”
John McKearn, PhD, Managing Director of RiverVest Venture Partners, commended OncoResponse’s progress and expressed their support for the company’s pursuit of innovative immunotherapy treatments for cancer. He said, “We are pleased to support OncoResponse in their efforts to develop new and innovative immunotherapy treatments for cancer. The Company has made significant progress in building their pipeline, and we look forward to further insights from future clinical studies.”
The Cancer Prevention and Research Institute of Texas (CPRIT) was established by the Texas Legislature in 2007, with an additional $3 billion investment approved in 2019. This $6 billion, 20-year initiative is the largest state cancer research investment in the United States. CPRIT has granted over $3 billion to Texas research institutions and organizations for cancer research, prevention, and product development programs.
OncoResponse, in partnership with MD Anderson Cancer Center, utilizes a proprietary B-cell discovery platform to identify and develop novel antibodies targeting immune cells in the tumor microenvironment. OR2805, the company’s lead clinical candidate, is a fully human antibody discovered through this platform and has entered cohort expansion trials in multiple cancer indications. OncoResponse is also developing additional pipeline candidates that modulate suppressive macrophage activity, including OR502, an anti-LILRB2 antibody expected to commence clinical studies in 2023.
With the support of the CPRIT grant and the additional funding, OncoResponse is well-positioned to advance its cutting-edge immunotherapies and contribute to the fight against cancer.
