ImmunoMet Therapeutics Raises $5.0 million in a Series B Financing > Investors & Media

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Investors & Media

ImmunoMet Therapeutics Raises $5.0 million in a Series B Financing

Date :
March 7, 2017

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ImmunoMet Therapeutics Raises $5.0 million in a Series B Financing 


Company to Advance Development of IM156, an OXPHOS Inhibitor, and Immuno-Oncology Platform

 

Houston, TX, March 7, 2017 ImmunoMet Therapeutics, a development stage biotechnology company

focused on utilizing cellular metabolism to develop novel anti-tumor and immuno-oncology therapies, today

announced that the Company has raised $5.0 million in a Series B financing with participation from Intervest,

SL Investment, NHN Investment along with the Series A investors Mirae Asset Venture Investments, GNTech

and Dr. Sung-wuk Kim, founder, Chairman and CEO of ImmunoMet.

 

This financing will fund the Company’s Phase 1 clinical study for IM156 and the preclinical studies of our

immuno-oncology program that is focused on inhibiting immune suppressor cells. We are enthusiastic about

the potential opportunities in our pipeline to provide life-saving medicines for patients, especially those with

drug resistant cancers,said Benjamin R. Cowen, Chief Operating Officer of ImmunoMet.

 

The Company’s lead molecule, IM156, an OXPHOS inhibitor, is expected to enter a Phase 1 clinical trial in the

second quarter of 2017. IM156 has demonstrated positive in vivo results in resistant brain and lung tumors in

preclinical studies. Additionally, the Company’s immuno-oncology program, IM188, is being developed in

combination with immunotherapies, including an anti-PD1. The IM188 program is in late stage lead-

optimization and has demonstrated tumor regression in a renal cancer model.

 

Dr. Sung-wuk Kim, CEO of ImmunoMet, said, “In addition to the completion of this Series B round, the

Company has made significant progress including the strengthening of our management team, the formation

of our world-renowned scientific advisory board, and establishing our headquarters and research and

development facilities at JLABS in Houston TX.

 

About ImmunoMet Therapeutics

ImmunoMet Therapeutics, a private, early stage biotechnology company, is dedicated to developing innovative oncology products to improve the quality of life and make a meaningful difference in the lives of cancer patients. The Company, a spinoff of HanAll, a Korean biopharma company, is headquartered at JLABS in Houston. ImmunoMet’s R&D program is focused on utilizing cellular metabolism to develop novel cancer and immuno-oncology therapies, which include cancer metabolism designed to disrupt a tumor’s energy source using OXPHOS inhibitors to treat drug resistant and relapse cancers and immuno-oncology targeting immune suppressor cells to enhance the response of current immunotherapies. For more information about the Company, please visit www.immunomet.com.

 

Contact

Benjamin R. Cowen: Chief Operating Officer, 215-527-1312, bcowen@immunomet.com

Joseph T. Schepers: 770-558-5517, joeschepers@immunomet.com


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