Corvus Pharmaceuticals Receives $70,500,000 New Funding Round

  • Feed Type
  • Date
    3/23/2016
  • Company Name
    Corvus Pharmaceuticals
  • Mailing Address
    863 Mitten Road Burlingame, CA 94010 USA
  • Company Description
    Corvus Pharmaceuticals (NASDAQ: CRVS) is a biopharmaceutical company focused on the development of novel, first-in-class agents that target the immune system to treat patients with cancer.
  • Website
    http://www.corvuspharma.com
  • Transaction Type
    IPO
  • Transaction Amount
    $70,500,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    We expect to use our existing capital resources and the net proceeds from this offering as follows: approximately $40 million to fund the ongoing clinical development of CPI-444, including our Phase 1/1b clinical trial; and the remainder to fund the preclinical development of our anti-CD73 adenosine production inhibitor, our adenosine A2B receptor antagonist, our ITK inhibitor and early-stage research and development of other programs and potential future development programs, potential in-licensing of technology or products, capital expenditures, working capital and other general corporate purposes. While we expect the majority of this amount will be allocated to our anti-CD73 adenosine production inhibitor, the allocation of funds among these product candidates will largely depend on their performance in preclinical trials, which we are unable to predict.
  • M&A Terms

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