to Advance Antibody-based Therapeutics Targeting the Tumor Microenvironment
Pionyr Immunotherapeutics, a company at QB3@953, is developing antibody therapeutics that increase the body’s antitumor immunity by rebalancing the myeloid infiltrate in the tumor microenvironment, announced the closing of a $62 million Series B investment round. This brings total funding since the company’s founding in 2015 to $72 million. The Series B financing was led by New Enterprise Associates and included Sofinnova Ventures and Vida Ventures, along with Pionyr’s existing investors, OrbiMed, SV Health Investors, Osage University Partners, and Mission Bay Capital.
Research conducted at Pionyr over the past year shows that its most advanced technology, Myeloid Tuning™, is capable of rebalancing the tumor microenvironment to favor immune-activating myeloid cells over immune-suppressing myeloid cells. This activity is believed to enhance antitumor efficacy, particularly in combination with checkpoint inhibition. The proportions of specific subpopulations of myeloid cells in the tumor microenvironment have been shown to correlate with clinical outcome and predict checkpoint inhibitor responsiveness.
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