Cold Gensys Inc said March 18 that it raised $22 million in a Series C round led by ORI Healthcare Fund LP. Perseverance Capital Management participated in the round. Cold Genesys is a clinical-stage biopharmaceutical company focused on the development of immunotherapies.
SANTA ANA, Calif.–(BUSINESS WIRE)–Cold Genesys, Inc., a clinical-stage biopharmaceutical company focused on the development of novel immunotherapies, today announced the closing of a $22 million Series C preferred stock financing. New investors participated in the round, including lead investor, ORI Healthcare Fund L.P. (“ORI Fund”), with participation from Perseverance Capital Management.
The financing will accelerate the growth of Cold Genesys’ ongoing clinical programs and the continued advancement of its lead oncolytic immunotherapy CG0070, which has completed a Phase 2 study (BOND2) and demonstrated clinical safety and efficacy in over 100 patients to date for the treatment of Non-Muscle Invasive Bladder Cancer (NMIBC).
“Cold Genesys has reached an exciting stage in its development, and this financing demonstrates continued investor confidence in our leadership and future in the field of oncolytic immunotherapy,” said Arthur Kuan, CEO of Cold Genesys. “We have made significant progress within the last year, from new leadership appointments to our partnership with Merck to evaluate their anti-PD-1 therapy, KEYTRUDA® (pembrolizumab), in combination with CG0070 in a Phase 2 clinical study. Our robust pipeline based on our oncolytic immunotherapy platform, partnerships with leading institutions, and key advancements in our clinical program, demonstrate our commitment to rapidly advancing therapies that will change the lives of patients with bladder cancer and other solid tumors.”
“We are a strong believer in using the oncolytic immunotherapy approach in both monotherapy and combo therapy to combat cancer,” said Simone Song, Senior Partner of ORI Fund. “We are very fortunate to have the opportunity to work with an outstanding firm such as Cold Genesys which has completed the Phase 2 study for NMIBC. We have confidence that Cold Genesys will fulfill the unmet medical need for NMIBC, and we also hope that Cold Genesys can become a platform company to benefit patients with various types of solid tumors by applying its oncolytic immunotherapy expertise.”
About Cold Genesys
Cold Genesys is a clinical-stage immuno-oncology company focused on the development of oncolytic immunotherapies to combat cancer. The company’s lead candidate CG0070 has completed an investigation in a Phase 2, single-arm, open-label, multicenter study (BOND2) for patients with NMIBC who failed BCG therapy and refused cystectomy. In addition, Cold Genesys is exploring the use of CG0070 in combination with immune checkpoint modulators in different solid tumors.
About ORI Healthcare Fund L.P.
ORI Fund is a $200 million venture capital fund focused on investing in innovative companies with disruptive technologies in the healthcare industry globally. The fund is founded by Ms. Simone (Hong Fang) Song, former investment banker and head of China Healthcare at Goldman Sachs.