OncoNano Medicine Secures $23.7 Million in Additional Series A Funding to Advance Cancer Imaging Clinical Trials

On July 9, VCBeat (WeChat ID: vcbeat) learned from foreign media that biotechnology company OncoNano Medicine, Inc. announced the completion of a $23.7 million Series A financing round, bringing its Series Atotal financing amount for the round reached$35.4 million. This round of financing was led byFinancial Services Companymanaged by Salem Partners’ wealth management division, with Salem Partners also being one of the lead investors. The funds from this round of financingwill driveOncoNano Medicine’s cancer imaging clinical trials, and the expansion of its technology to other candidate areas for therapeutic applications.

Ravi Srinivasan, CEO of OncoNano Medicine, stated：“Over the past year,OncoNano Medicine has made significant progress in completing the Phase I trial of its intraoperative cancer imaging agent, ONM-100, with 100% of patients demonstrating an imaging response.We will alsoThe application of pH-sensitive micelle platforms has expanded into new areas, such as therapeutics and cancer vaccines. Continued support from existing investors, along with the addition of new ones, will enable us to further fulfill our mission of transforming the way cancer is detected and treated.”

InUnder the leadership of Ravi Srinivasan, CEO of OncoNano Medicine, the companyDeveloped a solution that can digitize and leverage disease-relatedpH changesNew TypepH-Activated Compounds. pH variability serves as a biomarker for diseased tissues, providing a foundation for the development of broadly applicable, highly targeted therapeutics and imaging agents.

ONM-100 is the first product from the company’s proprietary micelle library platform, featuring micelles that are highly sensitive to pH changes. This intravenously administered imaging agent can detect tumors and metastatic lymph nodes and is currently entering Phase II clinical trials. Earlier this year, the company announced that the U.S. Food and Drug Administration had accepted its application.ItsIND Application for ONM-100. OncoNano Medicine’s micelle platform is also being used to develop therapeutic agents, including T-cell activators targeting lymph nodes and dendritic cells for cancer treatment.

John Dyett, Co-Founder and Managing Director of Salem Partners and a Board Member of OncoNano Medicine, said：“OncoNano Medicine boasts an experienced executive and scientific team, coupled with the company’s expansion of its platform into multiple imaging and therapeutic application areas, attracting both existing and new investorsYes“OncoNano Medicine is brimming with confidence. We are fully confident in the company’s potential to make a significant impact on the future of cancer care.”

OncoNano Medicine, Inc. is developing a digitalizableLeveraging diseasepH Value ChangesNew TypepH-Activated Compounds. pH variability is a proven, simple, and effective biomarker for diseased tissue, laying the foundation for the development of broadly applicable, highly targeted therapeutics and imaging agents. OncoNano Medicine is the first company to advance candidate products that leverage pH as a biomarker for cancer immunotherapy, therapeutic applications, and intraoperative imaging, based on its pH-sensitive micelle technology.

Salem Partners, a financial services firm founded in 1997, is driven by the vision of providing indispensable services to its clients. Rather than measuring success by the number of clients, Salem Partners gauges its achievements by the depth of its relationships with each client. The firm realizes this objective by ensuring that all clients receive attention from senior professionals. Salem Partners currently comprises an Investment Banking Division and a Wealth Management Division. Its Investment Banking Division has completed billions of dollars in transactions across industries including media and entertainment, healthcare, aerospace, defense, and technology. The Wealth Management Division provides investment and family office services to families seeking high-level service and expertise.

(Compiled by Zhang Jing)