OncoMed nabs $93M for stem cell programs
OncoMed Pharmaceuticals, a company working to fight cancer using stem cells, added a $93 million tranche to a second round of funding that now totals $154 million. The money will be used to push its lead antibody candidate through phase-two clinical trials.
The Redwood City, Calif. firm specializes in developing treatments to target cancer stem cells — the cells that cause tumor growth and renewal. They are unique in their resistance to chemotherapy and radiotherapy treatments. If an antibody can be found to destroy these cells, it could be used to prevent tumor formation in most parts of the body.
In this effort, OncoMed is partnering with GlaxoSmithKline, a collaboration worth up to $1.4 billion. It has raised $204 million on its own to date. New investor Nomura Phase4 Ventures Limited joined existing backers US Venture Partners, Latterell Venture Partners, Vertical Group, Morgenthaler Ventures, Adams Street Partners, DeNovo Ventures and Bay Partners in the recent funding round.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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