ARMO BioSciences Receives $30,000,000 Series B Funding Round

  • Feed Type
  • Date
    5/28/2014
  • Company Name
    ARMO BioSciences
  • Mailing Address
    575 Chesapeake Drive Redwood City, CA 94063 USA
  • Company Description
    ARMO BioSciences is a biopharmaceutical company that develops immunotherapies for the treatment of Cancer, Cardiovascular Diseases, Fibrosis and Inflammation. ARMO’s lead product AM0010, is a PEGylated form of recombinant human Interleukin-10 (PEG-rHuIL-10). AM0010 stimulates the differentiation and proliferation of tumor specific killer T-cells (CD8 T cells); lowers serum cholesterol levels; reduces atherosclerotic plaques and is anti-fibrotic and anti-inflammatory in animal models. AM0010 displays this broad potential therapeutic applicability through its biologic effect on the myeloid and lymphoid cell repertoire. ARMO believes that by harnessing the body’s own capability to arm itself against cancerous, inflammatory and fibrotic cells, it may provide safer, and more effective drugs to patients suffering from grievous diseases.
  • Website
    http://www.armobio.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $30,000,000
  • Transaction Round
    Series B
  • Proceeds Purposes
    We intend to use the Series B funding to complete several expansion cohorts of our Phase 1 study of AM0010, including drug combination cohorts designed to evaluate the safety and tolerability of AM0010 in combination with standard of care and with other immunotherapy drugs. We expect results from the dose escalation part of the study by mid-2014.
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  • Venture Investor
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