Oncology Pharma Secures $38.4 Million Financing to Advance Development of Anti-Cancer Biologic KTH-222

On December 25, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media that U.S. oncology pharmaceutical company Oncology Pharma announced it had received a $38.4 million letter of intent for financing from SCP Partners.

Oncology Pharma plans to utilize the proceeds from this financing round to advance the collaborative development of KTH-222, a leading anti-cancer biologic drug with Kalos Therapeutics, and to bolster its partnership with Ribera Solutions’ Connect2Med clinical trial platform.

Oncology Pharma is a leading oncology company headquartered in the San Francisco Bay Area, dedicated to the research and development of cancer therapies. Oncology Pharma boasts a world-class advisory board that ensures the company remains at the forefront of cancer research, biotechnology, and healthcare technology development.

Oncology Pharma is currently primarily engaged in the research and development of KTH-222, an anti-cancer biologic drug, and is conducting clinical trials. KTH-222 is an anti-cancer agent that regulates cell growth by inhibiting pro-mitotic protein kinases. It is applicable to various types of cancer, including metastatic cancer. KTH-222 has a favorable safety profile with minimal side effects and demonstrates significant potential in reducing ascites and edema, which can cause pain or even death.

The global oncology drug market totaled $120 billion in 2016 and reached $130 billion in 2017. As of 2018, the total value of the global oncology drug market stood at $77.3 billion, with a projected compound annual growth rate (CAGR) of 12.3% through 2026. Driven by the aging global population and rising incidence of new cancer cases, the outlook for anticancer therapy is promising. As a hotspot within this field, oncology drug R&D offers high investment returns and serves a broad patient population, making its market a fiercely contested strategic battleground in the years to come.

Chuck Wagner, CEO of Oncology Pharma, stated, “I am pleased to have received this letter of intent, which provides the necessary financing for the execution of our company’s business plan.”

SCF Partners was founded in 1996 and is headquartered in the Northeastern United States. The firm manages over $800 million in assets, with primary investments in information and communications technology (ICT), life sciences, services, and defense and security. SCF boasts more than 200 years of combined investment and operational experience, leveraging its extensive strategic, operational, and financial expertise, as well as its broad network, to support its portfolio companies in securing funding, recruiting management talent, and fostering beneficial strategic alliances.

(Compiled by Yang Xiaohui)