Macrophage Pharma, an immune-oncology research and development (R&D) company that focuses on macrophage modulation in the tumour microenvironment (TME), has raised additional funding from Merck Ventures.
Additional funding
This additional funding has allowed Macrophage to complete the Series A Financing that was announced at the beginning of the year. Merck Ventures joins the existing investor syndicate with an equal size investment and the senior investment director joins Macrophage’s board of directors.
Through this funding, Macrophage will complete the first clinical study of its lead development candidate, a macrophage targeted p38MAP kinase inhibitor. Additionally, it will allow the company the opportunity to advance two other discovery candidates into preclinical development and add a fourth macrophage-targeted project into its pipeline.
“We are pleased to welcome Merck Ventures to our existing investor syndicate,” said Ian Miscampbell, non-executive chairman of Macrophage Pharma. “Their commitment represents further validation of the Company’s novel approach in the immuno-oncology field and enables us to expand our pipeline.”
“We are excited to join this experienced management team and investor syndicate to help translate this immuno-oncology pipeline into clinical development,” added Hakan Goker, senior investment director at Merck Ventures. “Macrophage Pharma impressed us with the initial data generated. The differentiated, novel approach they are following in the TME offers promise for the immuno-oncology armoury of clinicians to address a broad range of cancers.”