CG Oncology Closes $47 Million Series D Financing
IRVINE, Calif., December 10, 2020 – CG Oncology, Inc., a clinical-stage biopharmaceutical company focused on the development of novel oncolytic immunotherapies, today announced the closing of a $47 million Series D preferred stock financing led by new investor Kissei Pharmaceutical Co., Ltd., with participation from existing investors ORI Healthcare Fund, Camford Capital and Perseverance Capital Management.
The financing will support the advancement of CG Oncology’s late-stage clinical programs for its lead oncolytic immunotherapy, CG0070, including an ongoing global Phase 3 trial (BOND3) with CG0070 as a monotherapy for the treatment of BCG-unresponsive, Non-Muscle Invasive Bladder Cancer (NMIBC), and a combination Phase 2 study (CORE1) of CG0070 with KEYTRUDA® (pembrolizumab) in the same indication. In addition, a Phase 1b study (CORE2) is currently ongoing with CG0070 in combination with OPDIVO® (nivolumab) as a neoadjuvant immunotherapy for Muscle-Invasive Bladder Cancer (MIBC) in cisplatin-ineligible patients.
“We are excited to close our Series D round of funding, which will allow us to advance our late-stage pipeline, as new treatment options are desperately needed for patients with bladder cancer,” said Arthur Kuan, CEO of CG Oncology. “Our clinical progress in oncology is a testament to oncolytic immunotherapy as a novel approach, with our lead candidate CG0070 in both monotherapy and combination therapy studies. The support of leading global investors comes at a pivotal time for CG Oncology, with our lead monotherapy program advancing to BLA, and our combination programs of CG0070 with approved anti-PD-1 antibody therapies advancing in the clinic.”
“CG Oncology has made significant progress in advancing its late-stage oncolytic immunotherapy programs, and we have strong expertise to successfully develop and commercialize CG0070 in Japan, and other countries,” said Mutsuo Kanzawa, Chairman and CEO of Kissei. “We look forward to working closely with CG Oncology to address the significant unmet medical needs in oncology with this innovative therapy.”
About CG Oncology
CG Oncology is a clinical-stage biotechnology company focused on developing the next evolution of oncolytic immunotherapy for patients with advanced cancer. Our lead candidate, CG0070, is a selective oncolytic immunotherapy which has completed a Phase 2 trial for the treatment of high-grade NMIBC after BCG failure. Additional indications in MIBC and other solid tumors are being pursued with CG0070 in combination with immune checkpoint modulators. At CG Oncology, we aim to take the next evolutionary step in delivering innovative cancer care to millions of patients in need worldwide. Learn more at www.cgoncology.com.