New funding: OncoResponse raised a $40.6M Series C investment round as it continues to develop antibodies that fight cancer.
The science: The company examined the immune systems of cancer patients who responded unusually well to immunotherapy treatments. It aims to harness antibodies from those immune systems to make new immunotherapy treatments for patients whose systems do not respond well to existing options.
Leadership: The company is led by CEO and founder Clifford Stocks, who previously led Theraclone Sciences and was a longtime exec at ICOS Corporation, which was acquired by Lilly for $2.3 billion in 2007.
Investors: Members of the Magnetar Group led the round, which included participation from Yonjin Venture, Bering Capital, RiverVest Venture Partners, Qatar Investment Authority (QIA), Redmile Group, 3B Future Health Fund (Helsinn Investment Fund), Canaan Partners and ARCH Venture Partners.
The company has now raised nearly $110 million since it was launched by The University of Texas MD Anderson Cancer Center and the now-closed Theraclone Sciences in 2015.
Seattle biotech activity: This week another Seattle biotech startup also raised funding, as Outpace Bio landed $30 million. Seattle-based Rodeo Therapeutics, meanwhile, announced its acquisition by Amgen.