PHILADELPHIA, Dec. 21, 2015 /PRNewswire/ -- Immunome, Inc., a biotechnology company focused on developing transformative immunotherapies to treat cancer, today announced it has raised $5 million in Series A Preferred Stock financing with $3.6 million funded and $1.4 million committed and closing anticipated in the near future. The company anticipates using the proceeds to fund further development of Immunome's growing pipeline of cancer therapeutic antibodies. The financing included investments from new and existing Immunome investors.
Jane Hollingsworth, Immunome Interim CEO and Executive Chair said, "We thank all of our investors for their confidence and continued support of our growing pipeline of novel cancer immunotherapy candidates. Our pipeline has grown rapidly as a result of our exceptionally productive discovery engine that identifies native antibodies and their target antigens raised during a cancer patient's humoral response. We believe that Immunome is poised to meet the demand for less toxic, novel and highly selective cancer antibodies for the next-generation of immuno-oncology therapies, a market expected to grow to $35 billion by 2025."
Scott Dessain, MD, PhD, Immunome co-founder and Chief Scientific Officer, commented, "Immunome has the potential to identify novel antigen antibody pairs from all cancer types and patient subsets, including those that have responded to checkpoint inhibitors. We have already identified multiple therapeutic candidates for T-cell activating and ADC therapies that demonstrate promising results in vitro and in vivo. Our lead candidate, IMM-002, binds to a novel antigen found only on cancer cells. We believe this is the first recognition of this antigen presenting on the extracellular membrane of cancer cells."
Broadband Capital Management acted as exclusive placement agent for the financing.
Immunome is a biotechnology company with a growing pipeline of cancer immunotherapies produced by a unique and powerful immunotherapy discovery engine. Immunome's proprietary RealMAb™ technology enables the simultaneous discovery of novel antigens and the cognate native human antibodies that target those antigens. RealMAb, originally developed at Massachusetts Institute of Technology's Whitehead Institute, utilizes the human immune system response to circumvent the weaknesses, complications and inefficiencies of non-human approaches. After identification, Immunome employs its proprietary screening technology to screen for functional and specific cancer activity of these antigen antibody pairs. For more information about the company, visit http://immunomeinc.com.
Jane H. Hollingsworth
Interim CEO and Executive Chair
Sage Strategic Marketing
Certain statements in this press release concerning the development of Immunome's products and the potential benefits and attributes of these products are "forward-looking statements", as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Immunome undertakes no obligation to update any forward-looking statements for any reason.
SOURCE Immunome, Inc.