On October 13, 2020 ImmuneOnco, a Shanghai oncology immunotherapy company, reported that it completed a $25 million Series B financing, led by Lilly Asia Fund (Press release, ImmuneOnco Biopharma, OCT 13, 2020, View Source [SID1234568462]). Founded in 2015, the company is developing bi-specific antibodies, novel recombinant proteins, target-specific natural killer (NK) cells, a target-activated NK (TANK) cell therapy, a CAR-T cell therapy and monoclonal antibody drugs that target immune regulation pathways. ImmuneOnco said the capital would support clinical studies of two ImmuneOnco candidates, IMM01, an anti-CD47 fusion protein, and IMM0306, a bispecific antibody targeting CD47-CD20.

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