OncoResponse Receives Series A Funding
HOUSTON, TX, OncoResponse, an immuno-oncology antibody discovery company, today announced an investment from Baxalta Incorporated.
In October 2015, OncoResponse closed a Series A financing co-led by ARCH Venture Partners, Canaan Partners and MD Anderson, with William Marsh Rice University and Alexandria Real Estate Equities also participating. The investment by Baxalta brings the total Series A to $12.5 million and will be used to support OncoResponse's ongoing efforts to interrogate the humoral response of elite responders to cancer immunotherapy to identify antibodies and potential targets for novel therapeutic development.
OncoResponse utilizes a validated platform technology to rapidly screen antibodies made by the human immune system and identify those with exceptional reactivity to cancer immunotherapy. The company has an ongoing strategic alliance with the MD Anderson Cancer Center, which provides access to patient samples and oncology and translational medicine expertise including clinical and regulatory input.
'We are pleased to welcome Baxalta to our solid team of investors,' said Clifford J. Stocks, CEO of OncoResponse. 'Our current partnership with MD Anderson has seen significant progress, and this additional investment reinforces our continued commitment to the identification of rare cancer-fighting antibodies and novel targets that may lead to the development of improved cancer treatments.'
'This investment will assist OncoResponse in the advancement of its research programs which seek to develop a deeper understanding of the immune response in patients who have responded exceptionally well to cancer immunotherapy,' said Geeta Vemuri, PhD, Managing Venture Partner at Baxalta. 'Their innovative approach is in line with Baxalta's investment strategy to accelerate the development of cutting-edge biotechnologies that address unmet patient needs in hematology, immunology and oncology.'
Baxalta Incorporated (NYSE: BXLT) is a global biopharmaceutical leader developing, manufacturing and commercializing therapies for orphan diseases and underserved conditions in hematology, immunology and oncology. Driven by passion to make a meaningful impact on patients' lives, Baxalta's broad and diverse pipeline includes biologics with novel mechanisms and advanced technology platforms such as gene therapy. Launched in 2015 following separation from Baxter International, Baxalta's heritage in biopharmaceuticals spans decades. Baxalta's therapies are available in more than 100 countries and it has advanced biological manufacturing operations across 12 facilities, including state-of-the-art recombinant production and plasma fractionation. Headquartered in Northern Illinois, with its Global Innovation Center in Cambridge, Mass., Baxalta employs 17,000 employees worldwide.
OncoResponse mines the human adaptive immune system to discover therapeutic antibodies against novel immuno-oncology targets. By identifying candidates from the immune systems of patients who have responded exceptionally well to cancer immunotherapies, OncoResponse has the potential to increase the success rate of these therapies across multiple cancer types. www.oncoresponseinc.com.
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