Global law firm Hogan Lovells is advising OncoVerity, a pioneer in applying advanced bioinformatics to drug development, as it announces the closing of a Series A extension financing led by existing investors, argenx and RefinedScience.
With this funding, OncoVerity aims to advance its mission to address the unmet medical need of cancer patients, leveraging a unique computational approach to inform a development strategy that seeks breadth and depth of response.
The proceeds from the Series A extension will fund OV-AML-1231, a Phase 2 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.
Additional information on the transaction can be found here.
The Hogan Lovells deal team was led by partners Andrew Strong (M&A, Houston) and Michael Frank (Tax, Pensions & Benefits, Silicon Valley), with support from associate Josh Ling (M&A, Houston), and paralegal coordinator Leyla Gungor (Washington, D.C.).
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