PHILADELPHIA, Oct. 6, 2016 /PRNewswire/ -- Immunome, Inc., a biotechnology company focused on developing transformative immunotherapies to treat cancer, today announced it has closed on an aggregate of $10.2 million in 2016 Series A Preferred Stock investments. An additional $2 million is committed to be funded by June 30, 2017. The Company plans to use the proceeds to further develop and scale up Immunome's discovery engine and pipeline of cancer therapeutics.
"We thank all of our investors for their confidence and enthusiastic support of the development and scale up of our technology and novel cancer immunotherapy candidates," said Jane H. Hollingsworth, Immunome's chief executive officer. "We believe that this support has enhanced our ability to maximize the value of our unique immunotherapy approach."
Michael J. Morin, PhD, Immunome's president and chief scientific officer commented, "This funding allows us to continue to aggressively optimize and implement our unique outcome-based discovery engine. We begin the process with patients who have cancer-educated immune systems, particularly those who have had a robust response to a checkpoint inhibitor. Our platform then generates large libraries of hybridomas, utilizes high-content screening approaches and identifies targets of the most important antibodies, before finally engineering drug-like qualities into the therapeutic candidates."
Immunome is a biotechnology company with a unique and powerful outcome-based immunotherapy discovery engine. Originally developed at Massachusetts Institute of Technology's Whitehead Institute, Immunome's platform leverages the patient immunological response to circumvent the weaknesses, complications and inefficiencies of traditional discovery research. Immunome focuses on the simultaneous discovery of novel antigens expressed in patient tumor cells and the cognate native patient antibodies that target those antigens. These antigen-antibody pairs form the basis of the Immunome library and therapeutic pipeline. For more information about the company, visit http://immunome.com.
Jane H. Hollingsworth
Chief Executive Officer
Sage Strategic Marketing
Certain statements in this press release concerning the financing, 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.