— Announces additional $10 million in Series B financing, bringing total round gross proceeds to $89.6 million —
CAMBRIDGE, Mass., Dec. 20, 2019 – Oncorus, Inc., a viral immunotherapies company focused on driving innovation to transform outcomes for cancer patients, today announced that it has appointed Mary Kay Fenton to its Board of Directors. Ms. Fenton currently serves as Chief Operating Officer and Chief Financial Officer of Semma Therapeutics, an operating subsidiary of Vertex Pharmaceuticals (Nasdaq: VRTX).
Oncorus also announced today that it has raised a further $10 million from new investor FOSUN INDUSTRIAL CO., LIMITED in its Series B financing. In August, Oncorus announced a $79.5 million Series B round, which was co-led by Cowen Healthcare Investments and Perceptive Advisors, and included participation from a broad, multinational syndicate of new investors and existing Series A investors.
As specified in the August announcement, Oncorus is using the Series B proceeds to advance its lead candidate, ONCR-177, an intratumorally administered viral immunotherapy developed using the company’s proprietary herpes simplex virus-1 (HSV-1) platform, into the clinic in the first half of 2020. Simultaneously, Oncorus is progressing its synthetic virus platform, which employs a novel delivery methodology to enable repeat, intravenous administration of viral immunotherapies. Oncorus’ synthetic platform is being developed for the treatment of a broad range of cancers, particularly in indications that are less amenable to intratumoral injection due to safety and feasibility reasons, such as lung cancer.
“We are thrilled to welcome Mary Kay to Oncorus’ Board at this pivotal moment in our company’s growth,” said Theodore (Ted) Ashburn, M.D., Ph.D., President and Chief Executive Officer of Oncorus. “We approach 2020 in an extremely strong position, bolstered by an influx of capital from our successful Series B round, as we advance our lead HSV-1 candidate, ONCR-177, toward the clinic, while continuing to make important progress advancing preclinical efforts for our synthetic virus platform. We look forward to leveraging Mary Kay’s insights as we work diligently to deliver on our mission to realize the full promise of viral immunotherapy for cancer patients.”
Ms. Fenton added, “I am excited to join Oncorus’ Board, having been very impressed with the company’s notable progress on both of its platforms, and also with its values-driven culture and clear passion to transform the treatment landscape for cancer patients. I look forward to working closely with Ted, my fellow Board members and the Oncorus management team as the company strives to evolve into a clinical stage organization in the months ahead.”
Ms. Fenton joined Semma Therapeutics from Achillion Pharmaceuticals, which she joined in 2000 and where she later served as Executive Vice President and Chief Financial Officer from 2006 to 2018. At Achillion, Ms. Fenton was a key member of the executive team and played an instrumental role in the company’s growth, including overseeing multiple public and private capital raises, and leading financial and operational functions. Prior to joining Achillion, Ms. Fenton held various positions within the Technology Industry Group at PricewaterhouseCoopers LLP, an independent registered public accounting firm, from 1991 to 2000, most recently as Senior Manager responsible for the life sciences practice in Connecticut. She holds an M.B.A. in Finance from the Graduate School of Business at the University of Connecticut and an A.B. in Economics from the College of the Holy Cross.
At Oncorus, we are focused on driving innovation to deliver next-generation viral immunotherapies to transform outcomes for cancer patients. We are advancing a portfolio of intratumorally and intravenously administered viral immunotherapies for multiple indications with significant unmet needs based on our oncolytic herpes simplex virus-1 and synthetic virus platforms. Our team has engineered proprietary, multidimensional innovations into both platforms to enable us to deliver on the full potential of this therapeutic class to dramatically improve outcomes for cancer patients. Please visit www.oncorus.com to learn more.
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