OncoImmune, Inc. announced the completion of a $56 million financing in Series B equity co-led by HM Capital and a blue-chip investor. Existing investors, 3E Bioventures Capital and Kaitai Capital, as well as additional new investors, GBA Fund and GF Xinde, also joined the round. Oncoimmune will use the proceeds to support its novel herapeutic programs in late stage clinical trials and to expand its product pipeline.
OncoImmune currently has two Phase III clinical programs to evaluate its lead product CD24Fc, a first-in-class biologic, in protecting against immune destruction in severe and critical COVID-19 patients in one trial, and in leukemia patients that are prone to acute GVHD after receiving allogeneic hematopoietic stem cell transplant in the second trial. The COVID-19 Phase III trial has been initiated in 17 medical centers nationwide and is enrolling severe and critical COVID-19 patients that either require supplemental oxygen support or high flow oxygen non-invasive ventilation, in addition to ICU patients requiring invasive mechanical ventilation. The trial plans to enroll over 270 patients and is near its enrollment target with topline readouts expected soon.
“We are grateful to our investors for their confidence and continued support,” said Yang Liu, PhD, Founder, CEO and Chairman of OncoImmune. “We are delighted to see the significant progress OncoImmune has made in the past few years. It exemplifies how great scientific discovery can be turned into potential novel therapeutics benefiting patients,” said Dr. Karen Liu, Partner at 3E Bioventures Capital, which led OncoImmune’s Series A round in 2017.
“HM Capital is delighted to co-lead the investment to support innovations of transformative impact. We very much look forward to OncoImmune’s continuous success,” said Robert Luo, the founding partner of HM Capital.
About OncoImmune, Inc.
OncoImmune (www.oncoimmune.com) is a privately-held, clinical-stage biopharmaceutical company that is actively engaged in the discovery and development of novel immunotherapies for cancer, inflammation and autoimmune diseases. OncoImmune is based in Rockville, Maryland.
OncoImmune’s lead product, CD24Fc, is a novel therapeutic that regulates host inflammatory response to tissue injuries and has broad implications in the pathogenesis of cancer, autoimmune disease, metabolic syndrome and graft-versus-host disease (GvHD). OncoImmune has completed a Phase IIa trial for CD24Fc for the prophylactic treatment of acute Graft versus Host Disease (aGvHD) in leukemia patients undergoing hematopoietic stem cell transplantation (HSCT), which Sharp launches Clinventory Inventory Management System (IMS) for clinical trials Source:
Sharp
Sharp – part of UDG Healthcare plc, a global leader in contract packaging clinical supply services, has launched a new Inventory Management System (IMS) to support clinical trial sponsors in managing inventory and supplies. The new system – named Clinventory – has been designed to provide full visibility of stock levels at investigator sites and tracking product through the supply chain. It ensures that sponsors have a comprehensive, real-time view of their trial.
Using the Clinventory IMS will also create efficiencies for trial sponsors by improving the drug management process by leveraging automation to increase reliability, while reducing the costs associated with manual processes.
Sascha Sonnenberg, Global Head of Business Development at Sharp Clinical said “At Sharp, we are always exploring ways to support our clients’ efforts to create more efficiency and lower the cost of their clinical trials.
“Clinventory has been designed specifically with those smaller-volume, early stage or open label clinical trials in mind, where a larger, more expensive inventory system might offer an array of functionality that is surplus to needs”.
Key features of the Clinventory IMS include:
- On-demand study supply information
- Eliminates the need for manual processes for dispatches and returns
- Customisable automatic resupply, which can be updated as the study enrolment increases or decreases
- Temperature excursion tracking with supply release and approval
- Manual shipment requests for emergency situations.
The system complements Sharp’s Clinteract Interactive Response Technology (IRT) solution, which delivers all the features of Clinventory IMS plus subject enrolment and trial randomisation functionality.
The availability of Clinventory IMS means the company’s clients now have a choice of trial management solutions appropriate to the scale of their trial.
ich resulted in a significant improvement in 180 Day Grade III-IV acute GVHD Free Survival, the Phase III primary endpoint. CD24Fc prophylaxis
also resulted in reduced relapse and demonstrated improvement in Overall Survival, Non-Relapse Mortality and Relapse-Free Survival, as compared with the controls. A dose-dependent reduction in severe (Grade > 3) mucositis was also observed. A 20 patient open label dose expansion cohort at the recommended clinical dose has been fully enrolled and CD24Fc continues to perform very well.
