Oncolmmune Inc., a Maryland based biopharmaceutical company, is looking to raise $15 million, according to a Securities and Exchange Commission filing.
The company has already raised $5.5 million as part of the private equity offering.
Oncolmmune Inc., filed the Form D on Feb. 7. It did not disclose what it intended to do with the proceeds in the filing, however the company is about to move into phase II of a clinical trial.
The company was founded by Kun- Liang Guan, Ming You, Pan Zheng, and Yang Liu in 2000 after discovering the use of CD24 protein in treatments for cancer and autoimmune disease.
CD24 is the company’s lead product and responded well to the first round of clinical trials. The phase II trials will test prophylactic treatment of acute Graft versus Host disease (GvHD).
In September, the company announced a license agreement with Pfizer Inc. for ONC-392, an antibody, in a deal worth up to $250 million in upfront and potential milestone payments.
