OncoVerity, an Aurora, CO-based company which specializes in applying advanced bioinformatics to drug development, raised a Series A extension funding.
The amount of the deal was not disclosed.
The round was led by existing investors argenx and RefinedScience.
Led by CEO Max Colao, OncoVerity applies computational tools to clinical and biological data to advance therapies for cancer patients. Through a strategic collaboration with Refined Science, its approach leverages an advanced bioinformatics platform that applies single-cell multi-omics and machine learning technologies to a large AML patient database to identify biologic drivers to therapeutic resistance and insights on patient-specific risk factors.
The company intends to use the funds to advance its development efforts. The proceeds from the Series A extension will fund the Phase 2 OV-AML-1231 trial of cusatuzumab, a novel, first-in-class high-affinity monoclonal anti-CD70 antibody, in combination with venetoclax and azacitidine for the treatment of newly diagnosed acute myeloid leukemia (AML). The trial is enriched explicitly for patients with limited treatment options who show potential for responding to a cusatuzumab-based regimen, as informed by OncoVerity’s computational approach to guide its development. Patient enrollment is underway, and the first eight patients have been dosed.