ARMO intends to use the proceeds from funding to support the clinical development of its lead product candidate, AM0010, for the treatment of advanced solid tumors and its immunotherapy pipeline, including cytokines and an anti-programed cell death protein (anti-PD-1) monoclonal antibody checkpoint inhibitor.
Series C financing included all existing ARMO investors, including Kleiner Perkins Caufield & Byers (KPCB), OrbiMed, DAG Ventures and NanoDimension, as well as new investors HBM Healthcare Investments, GV (formerly Google Ventures), Celgene Corporation, Industrial Investors Group and certain private investment funds advised by Clough Capital Partners L. P: P
‘This funding enables us to advance our immunotherapy pipeline, in particular our lead compound AM0010, as we aim to improve treatment outcomes for cancer patients who do not respond to current immuno-oncology therapies,’ said Peter Van Vlasselaer, Ph.D. D. D. , Chairman and Chief Executive Officer of ARMO ‘AM0010 makes the tumor environment more responsive to immune-mediated therapies. In ongoing clinical trials, AM0010 has demonstrated long-lasting clinical responses as a single agent and in combination with standard chemotherapy or anti-PD-1 monoclonal antibodies to melanoma, lung, renal, pancreatic, colorectal and breast cancer. This funding enables us to move forward and to launch the first of several planned registration-enabled phase 2/3 studies. ”
‘Despite recent breakthroughs in the field of immunooncology, the majority of patients with immunosensitive cancers unfortunately do not have long-term responses and many types of cancer are not at all responsive to these therapies,’ said Beth Seidenberg, M. D. D. , General Partner of the KPCB ‘ARMO’s unique approach to immunooncology has the potential to increase the number of patients who respond to immunotherapy by using AM0010 to charge tumors with activated cytotoxic T cells to attack tumors that have become refractory or non-responsive to these treatments. ”
Around AM0010
ARMO’s lead immunotherapy product candidate AM0010 is a PEGylated form of human recombinant IL-10, which has shown sustained antitumor effects and a good safety/tolerability profile in patients with multiple oncology indications. Over 270 advanced cancer patients were treated with AM0010 in a large phase 1 study in a number of difficult-to-treat solid tumor indications. Thirty-three patients were treated in the monotherapy dose-escalation segment of the trial and the remainder were treated in expansion cohorts with either monotherapy or in combination with anti-PD-1 agents or care standards. Final results from this trial are expected across all indications and may offer standard-of-care, changing front-line options for these cancers.
AM0010 showed activity as monotherapy and in combination with anti-PD-1 agents in immune-sensitive tumors such as melanoma, renal cell carcinoma (RCC) and non-small cell lung cancer (NSCLC) as well as tumors previously not thought to be immuno-sensitive, such as colorectal (CRC) and pancreatic (PDAC) cancers. Early clinical results indicate that AM0010 makes the tumor micro-environment more susceptible to immune-mediated events, such as increased tumor infiltration of PD-1 positive T cells, thereby conferring anti-PD-1 sensitivity to tumors, including those previously refractory to anti-PD-1 therapy. Since the combination of AM0010 with an anti-PD-1 agent appears to have synergistic clinical activity in immune-sensitive tumors such as melanoma, RCC, and NSCLC, this mechanism may add an immune-mediated benefit to immune-insensitive cancers such as pancreatic, colorectal, and breast cancer.
ARMO BioSciences, Inc.
Founded in 2012, ARMO BioSciences is a clinical-stage company developing immunotherapy for multiple difficult-to-treat oncology indications. The company’s lead immunotherapy AM0010, a PEGylated form of recombinant human IL-10, promotes the tumor micro-environment for immune-mediated therapies and has demonstrated long-lasting clinical responses in several types of cancer, either as a single agent or in combination with standard-care chemotherapy or anti-programed cell death protein (anti-PD-1) monoclonal antibodies. ARMO plans to initiate the first of several phase 2/3 registration-enabled studies for AM0010 in solid tumors. The company also has a robust pipeline of therapeutic cytokines and an anti-PD-1 control point inhibitor.
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