ONK Therapeutics announced raising $8 million in a round led by Acorn Bioventures

ONK Therapeutics, a Galway, ireland-based developer of an off-the-shelf natural killer cell therapy, announced securing fund to the company of $8 million.

The money was raised from investors led by US-based investor Acorn Bioventures and current shareholders, bringing total raised in last six months to $14.6M. Current shareholders, principally Seamus Mulligan, an experienced biopharmaceutical executive, also contributed to the round.

Funding will enable expansion of R&D and manufacturing capabilities, and progression of its two lead programs towards the clinic:
- ONKT101 a dual-targeted NK cell therapy incorporating a CD19 CAR and TRAILv intended for the treatment of relapsed/refractory B cell malignancies
- ONKT102 combining an optimized CD38 CAR NK and TRAILv intended for the treatment of patients with relapsed/refractory multiple myeloma

ONK Therapeutics, founded in 2015, by Chief Scientific Officer (CSO) Prof. Michael O’Dwyer, is a pre-clinical stage company dedicated to the development of a best-in-class, off-the-shelf, dual-targeted NK cell therapy platform, targeting solid and hematological cancers. This unique approach combines the expression of a chimeric antigen receptor (CAR) and a high affinity, membrane-bound TNF related apoptosis inducing ligand variant (TRAILv). This is coupled with a strong research focus on strategies to enhance homing and persistence as well as to overcome exhaustion, including the exploration of proprietary gene edits, such as the deletion of checkpoint inhibitory receptors in NK cells. The company is advancing an expanding portfolio of product candidates based on this unique platform.