ImmuneOncia, formed in September 2016 as a joint venture between Yuhan and Sorrento, develops immuno-oncology antibody therapies led by IMC-001, a fully human anti‑PD‑L1 monoclonal antibody. IMC-001 is in Phase I and II clinical studies; the antibody blocks PD‑L1/PD‑1 interactions and may mediate ADCC to recruit NK and effector cells. The company also maintains earlier‑stage programs alongside its lead candidate. A $40M private equity financing at a $95M pre‑money valuation was completed to advance clinical studies and earlier programs. Management expects the financing to sufficiently fund ImmuneOncia in preparation for an initial public offering targeted for 2021. Company leadership cited on‑schedule R&D and clinical progress as a rationale for the investment. ImmuneOncia Therapeutics was formed as a joint venture between Sorrento Therapeutics and Yuhan Corporation to develop and commercialize multiple immune checkpoint antibodies against undisclosed targets for both hematological malignancies and solid tumors. The company will advance a portfolio of checkpoint antibodies toward commercialization across those indications. Yuhan will initially invest $10M in the new company and will own 51% of the joint venture. Sorrento granted ImmuneOncia an exclusive license for one of its immune checkpoint antibodies for a number of countries while retaining rights for the U.S., European and Japanese markets. The joint venture was announced on March 2, 2016 by San Diego-based Sorrento and South Korea’s Yuhan. No operating metrics or additional financial details were disclosed in the announcement.

Total raised

$50M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2019