OncoMed Pharmaceuticals has added a cool $93 million to its Series B after completing the second tranche in the round. The new money brings the Redwood City, CA-based biotech's second round haul to $154 million.
The money is being earmarked for advancing OncoMed's cancer stem cell antibody programs, including lead compound OMP- 21M18 and a second antibody, through Phase II clinical trials. New investor Nomura Phase4 Ventures participated in the financing along with existing OncoMed investors, which includes US Venture Partners, Latterell Venture Partners, The Vertical Group, Morgenthaler Ventures, Adams Street Partners, DeNovo Ventures and Bay Partners, as well as its strategic collaborator, GlaxoSmithKline.
"We are pleased to have completed this financing and to add Nomura Phase4 Ventures to our highly-regarded list of investors," said Paul Hastings, OncoMed's president and CEO. "These funds provide the company with multiple years of operating cash, and will enable OncoMed to take two cancer stem cell antibody therapeutics through Phase II clinical trials, as well as to expand our monoclonal antibody pipeline." OncoMed was a 2008 Fierce 15 company.
- see OncoMed's release