Aduro raises $19.25 million through Series B equity financing

Aduro raises $19.25 million through Series B equity financing

News and Articles
Apr 20 2011

Aduro BioTech, a clinical-stage immunotherapy company, announced today that it has completed its Series B equity financing from a combination of current investors and Morningside Ventures, bringing the total capital secured in this round to $19.25 million. In addition, Ms. Stephanie O’Brien, who represents Morningside, has joined Aduro’s Board of Directors.

“This new round of funding enables us to advance our lead cancer vaccine, CRS-207, into a Phase 2 clinical trial in pancreatic cancer”

“This new round of funding enables us to advance our lead cancer vaccine, CRS-207, into a Phase 2 clinical trial in pancreatic cancer,” said Stephen Isaacs, chairman and chief executive officer of Aduro. “In addition, these funds will support initial clinical development of CRS-207 for other indications and preclinical development of therapeutic vaccines for prostate cancer and melanoma as well as prophylactic vaccines for malaria and tularemia.”

Aduro previously reported results from a Phase 1 clinical trial of CRS-207 in 17 late-stage cancer patients with life expectancies of only 3-5 months. Six out of 17 patients survived for 15 months or longer after receiving their first vaccine dose.

Ms. O’Brien has extensive experience working with venture-backed life science and technology companies. She focuses on early-stage companies, working with chief executive officers on building the management team and developing business plans. She currently serves on several private company boards. She received her A.B., cum laude, from Harvard College and her J.D. from New York University School of Law.

“Morningside is pleased to join Aduro’s current investors in support of the company as it advances its lead compound into Phase 2 clinical trials,” said Ms. O’Brien. “Aduro is developing a new-generation platform technology within the rapidly evolving field of cancer immunotherapy. While the lead application is pancreatic cancer, the platform has a broad range of potential applications.”

Source:

 Aduro BioTech

Source: www.news-medical.net

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