Lokesh Choudhary · · 1 min readOnCusp Therapeutics secures $100m to advance cancer treatment
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OnCusp Therapeutics has raised US$100 million in a series A round co-led by Novo Holdings, OrbiMed, and F-Prime Capital, with participation from several other investors.
As part of the raise, the US-based biopharmaceutical company, which also has a footprint in China, will add new executives to its board. Karen Hong from Novo Holdings, Diyong Xu from OrbiMed, and Chong Xu from F-Prime Capital will all join following the funding.
OnCusp Therapeutics develops cancer treatment, focusing on translating early-stage research into effective medicines.
The funds will be used to advance the firm’s CUSP06 product, which is an antibody drug that helps fight ovarian cancer. The capital will also help OnCusp grow its portfolio and team. The startup recently received FDA clearance for the phase one trial of CUSP06.
Established in 2021, the company was co-founded by Bing Yuan and Andy Fu from CStone Pharmaceuticals and Eric Slosberg from Daiichi Sankyo.
OnCusp secured a US$25 million seed round that same year with investors including HongShan, BioTrack Capital, Oriza Seed Capital, and AIHC Capital.
See Also: ‘A fighting chance’: Why Mirxes chose Hong Kong over Singapore for its IPO
Editing by Miguel Cordon and Jaclyn Tiu
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