On March 18, 2019 Cold Genesys, Inc., a clinical-stage biopharmaceutical company focused on the development of novel immunotherapies, reported the closing of a $22 million Series C preferred stock financing (Press release, Cold Genesys, MAR 18, 2019, View Source [SID1234534429]). New investors participated in the round, including lead investor, ORI Healthcare Fund L.P. ("ORI Fund"), with participation from Perseverance Capital Management.
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The financing will accelerate the growth of Cold Genesys’ ongoing clinical programs and the continued advancement of its lead oncolytic immunotherapy CG0070, which has completed a Phase 2 study (BOND2) and demonstrated clinical safety and efficacy in over 100 patients to date for the treatment of Non-Muscle Invasive Bladder Cancer (NMIBC).
"Cold Genesys has reached an exciting stage in its development, and this financing demonstrates continued investor confidence in our leadership and future in the field of oncolytic immunotherapy," said Arthur Kuan, CEO of Cold Genesys. "We have made significant progress within the last year, from new leadership appointments to our partnership with Merck to evaluate their anti-PD-1 therapy, KEYTRUDA (pembrolizumab), in combination with CG0070 in a Phase 2 clinical study. Our robust pipeline based on our oncolytic immunotherapy platform, partnerships with leading institutions, and key advancements in our clinical program, demonstrate our commitment to rapidly advancing therapies that will change the lives of patients with bladder cancer and other solid tumors."
"We are a strong believer in using the oncolytic immunotherapy approach in both monotherapy and combo therapy to combat cancer," said Simone Song, Senior Partner of ORI Fund. "We are very fortunate to have the opportunity to work with an outstanding firm such as Cold Genesys which has completed the Phase 2 study for NMIBC. We have confidence that Cold Genesys will fulfill the unmet medical need for NMIBC, and we also hope that Cold Genesys can become a platform company to benefit patients with various types of solid tumors by applying its oncolytic immunotherapy expertise."