CoImmune announced the closing of a $45M Series A financing, led by Dr. Lucio Rovati, Chief Executive Officer and Chief Scientific Officer of the FIDIM Group. CoImmune will use the proceeds from the financing to fund its ongoing Phase 2b trial for lead asset, CMN-001, in advanced renal cell carcinoma and multiple Phase 1-2a trials with its newly acquired technology, CAR-CIK (chimeric antigen receptor modified cytokine induced killer cells), in five leukemia and lymphoma settings.
“With this new round of capital, CoImmune is well positioned to accelerate the development and advancement of our lead programs which are based on encouraging prior or on-going clinical trial results. These proceeds will allow us to initiate six planned clinical trials with three products by 2022,” said Charles Nicolette, Chief Executive Officer of CoImmune.
CMN-001, formerly known as AGS-003, is a dendritic cell-based immunotherapy custom matched to each patient’s particular disease. The FDA approved an IND for the phase 2b trial in February of 2020.
CoImmune’s allogeneic CAR-CIK technology is a variation on CAR-T therapy with greatly reduced toxicity while retaining strong efficacy based on an on-going clinical trial in pediatric and adult acute lymphoblastic leukemia patients. This CAR-CIK technology was acquired following a merger with Formula Pharmaceuticals, which was complete in April of 2020.