Ottimo Pharma Raises $140 Million in Series A to Accelerate Cancer Therapy
Deal News | Dec 19, 2024 | Avoro Capital
Ottimo Pharma, a privately held biotechnology company focusing on cancer therapies, has successfully secured over $140 million in Series A funding. This financing round was led by OrbiMed, Avoro Capital, and Samsara BioCapital, with Medicxi, Ottimo's founding investor, also participating. The funds will be used to advance the development of Jankistomig, a groundbreaking PD1/VEGFR2 bifunctional antibody treatment targeting multiple solid tumor indications. The company has also strengthened its leadership team by appointing industry veterans such as Rick Anderson, Spencer Fisk, and Ling Zeng to key positions. The additions are strategically aimed at enhancing Ottimo's capabilities as it plans to file an IND for Jankistomig by late 2025. The investment is notable in the context of a global oncology market valued over $50 billion and underscores Ottimo's innovative potential within the biopharmaceutical sector.
Sectors
- Biotechnology
- Pharmaceuticals
- Investment
Geography
- United States – Key participants and investors in the article, such as Ottimo Pharma, OrbiMed, and Samsara BioCapital, are based in the US.
- United Kingdom – Ottimo Pharma is indicated to have operations or associations in the UK, as suggested by the London dateline in the article.
Industry
- Biotechnology – The article discusses Ottimo Pharma, a biotechnology company, focusing on developing innovative cancer therapies.
- Pharmaceuticals – Ottimo Pharma is engaged in the development of novel pharmaceutical treatments for cancer, placing it within the pharmaceutical industry.
- Investment – The article highlights a significant investment round led by several major investment firms, focusing on financing biotech innovations.
Financials
- $140 Million – The amount raised by Ottimo Pharma in its Series A financing round.
- $50 Billion – The estimated valuation of the global oncology market that Ottimo Pharma aims to address with its products.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ottimo Pharma | Target Company | Company | A private biotechnology company focused on developing cancer therapies, co-founded by Medicxi and Jonny Finlay. |
| OrbiMed | Investor | Company | A leading healthcare investment firm that participated in the Series A funding and is represented on Ottimo's board. |
| Avoro Capital | Investor | Company | A global life sciences investment firm that led the Series A funding round for Ottimo Pharma. |
| Samsara BioCapital | Investor | Company | Biotech investment firm that participated in Ottimo Pharma's Series A funding and is involved in its strategic development. |
| Medicxi | Founding Investor | Company | A life sciences investment firm and founding investor of Ottimo Pharma. |
| Rick Anderson | SVP Finance | Person | Newly appointed Senior Vice President of Finance at Ottimo Pharma with extensive experience in financial management. |
| Spencer Fisk | Chief Technical and Quality Officer | Person | Industry veteran appointed as Chief Technical and Quality Officer at Ottimo Pharma. |
| Ling Zeng | General Counsel and EVP of Execution | Person | Newly appointed General Counsel and EVP of Execution at Ottimo Pharma, with a significant legal career in biotech. |
| David Epstein | Chair and CEO | Person | Chair and CEO of Ottimo Pharma, leading the company's strategic and developmental efforts. |