Arch Oncology Secures $50 Million Series B Financing to Advance AO-176, a Next-Generation Anti-CD47 Antibody for Cancer Therapy

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on March 25 (U.S. local time), immuno-oncology research company Arch Oncology completed a $50 million Series B financing round. This round of funding will support the next phase of clinical trials for Arch Oncology’s anti-cancer drug AO-176.

It is reported that this round of financing was led by LightChain, with participation from RiverVest Venture Partners, Roche Venture Fund, and 3x5 RiverVest Partners II-B.

Arch Oncology is a privately held, clinical-stage immuno-oncology company dedicated to developing best-in-class antibody therapies for cancer patients. Arch Oncology’s next-generation anti-CD47 antibody is highly differentiated, offering superior safety and efficacy compared with other antibodies in this class. The company’s lead candidate, AO-176, is currently advancing into the next phase of clinical trials for the treatment of patients with selected solid tumors. In addition, Arch Oncology is progressing a pipeline of programs that includes SIRPα antibodies.

CD47 is a protein expressed on the surface of most cells, including tumor cells. When overexpressed on tumor cells, CD47 prevents immune cells from recognizing them, thereby enabling these tumor cells to evade immune detection and phagocytosis. Current experiments focus on CD47, with researchers aiming to harness both innate and adaptive immune responses to direct immune cells to kill CD47-expressing tumor cells.

Anti-CD47 antibodies are the product of such research. They kill tumor cells by blocking CD47 from sending "don't eat me" signals and activating the innate immune system. In addition to this signal-blocking mechanism, anti-CD47 antibodies can also directly kill tumor cells and further activate the adaptive immune response. Currently, anti-CD47 antibodies are the only antibodies with these two anti-tumor activities. This is because anti-CD47 antibodies preferentially bind to tumor cells rather than normal cells (such as red blood cells). Furthermore, a low-pH environment favors the binding of anti-CD47 antibodies to tumor cells. At present, this technology for preferential binding to tumor cells is unique to anti-CD47 antibodies.

“Over the past year, the Arch Oncology team under Julie’s leadership successfully executed its R&D plan, advancing AO-176 from the lab into the clinic,” said Dr. John McKearn, General Manager of River Vest. “I believe AO-176 represents the best-in-class in the field of CD47 antibodies, and we are pleased to see the progress of the trials.”

RiverVest Venture Partners is a venture capital firm focused on investing in early-stage life sciences companies. The team’s investment expertise enables them to identify, discover, and actively nurture promising life sciences companies in the medical device and biopharmaceutical industries. RiverVest Venture Partners provides practical advice and strategic leadership to help entrepreneurs drive the growth of early-stage companies. Additionally, RiverVest Venture Partners invests in select later-stage life sciences companies to diversify financial risk and maximize investment returns.

(Compiled by Liu Yujing)