Tracxn Research — Immuno-Oncology Landscape, September 2016

Immuno-Oncology Report, September 2016

TracxnWorld’s Largest Startup Research Platform

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Contents

Topic Page No.

Scope of Report 05

Entrepreneur Activity 07

Investment Trend 09

Who is Investing 17

Exit Outlook - IPO, Acquisitions 21

Sub Sector Analysis 24

Interesting Companies 42

Company List 49

Team 154


Illustrative Sectors We Track

ENTERPRISEINFRASTRUCTURE

TECH

SECURITY

STORAGE

NETWORKING

MOBILITY

IT OPS

CLOUD INFRASTRUCTURE

API MANAGEMENT

BIGDATA INFRASTRUCTURE

INTERNET OF THINGS

3D PRINTING

HEALTH

EDUCATION

BIOPHARMA

DIAGNOSTICS

MEDICAL DEVICES

HEALTHCARE ANALYTICS

FITNESS AND WELLNESS

HEALTH IT

CONSUMER HEALTHTECH

MOBILE HEALTH

EDUCATION IT

SELF LEARNING

ENTERPRISEAPPLICATIONS

MOBILE

SAAS

MOBILE-FIRST ENT. APPS

INTELLIGENT ENT. APPS

OPEN SOURCE

RETAIL TECH

MARKETING TECH

STEALTH MODE

VERTICAL SAAS

MOBILE COMMERCE

MOBILE PAYMENTS

CONSUMER

FINTECH

MARKETPLACES

SUBSCRIPTION COMM.

UBER FOR X

INTERNET FIRST BRANDS

FOOD TECH

GROCERY TECH

TRAVEL

GAMING

BITCOIN

PAYMENTS


Sector Overview

Scope of report

The report contains companies which are developing therapeutics to suppress or activate immune system for the treatment ofcancer. This includes all the companies which are developing antibodies, small molecules, vaccines, viral and adoptive celltherapies for cancer. The report excludes big pharma companies, contract services providers and platform companies.

For funding, this report only includes venture capital/ private equity funding rounds and excludes debt financing andgrants/prize money.

The scope of this report includes equity as well as debt funding received by the companies.

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Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Company List

Team

6


25

20

24

27

22

37

8

0

8

16

24

32

40

2010 2011 2012 2013 2014 2015 2016

Nu

mb

er o

f C

om

pan

ies

7

YoY – Number of companies founded

BeiGene Panacela Labs ADC Therapeutics Juno Therapeutics Corvus Pharmaceuticals Gritstone Oncology Hengrui Therapeutics

PsiOxus Therapeutics TG Therapeutics Armo BioSciences Jounce Therapeutics Unum Therapeutics Autolus Cell Design Labs


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Company List

Team

8

8


YoY – Number of Rounds and Total Funding

Note: The funding includes debt rounds also.

$0.5B$0.7B

$1.2B

$0.7B $0.7B

$1.6B

$2.2B

$4.1B

$1.7B

25

72

101

74 73

100

133

129

79

0

28

56

84

112

140

0.0

0.9

1.8

2.7

3.6

4.5

2008 2009 2010 2011 2012 2013 2014 2015 2016

Nu

mb

er of R

ou

nd

sFu

nd

ing

Am

ou

nt

(in

Bill

ion

s)

Funding Amount Number of Rounds


YoY – Number of Rounds by Stage


YoY – Funding by Stage


Average Ticket Size – Early Stage


Top investments in last one year


Top investments in last one year


Funnel view of Sector


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Company List

Team

16

16


Most Active Investors in Sector

29

2120 20

1514 14 14

1312

0

7

14

21

28

35

Orbimed MPM Capital Alta Partners Novo A/S NovartisVenture Fund

5AM Ventures KPCB Versant Ventures SVLife Sciences

SofinnovaVentures

Tota

l Nu

mb

er o

f R

ou

nd

s

Alpine Immune Sciences

Oncorus Allakos Corvus Pharmaceuticals Adicet Bio Ideaya Biosciences Cell Design Labs Gritstone Oncology DelenexCheckmate

Pharmaceuticals

Armo BioSciencesAmphivena Therapeutics

Kite Pharma Allakos IFM Therapeutics Igenica Zai Lab Nouscom NKT Therapeutics NextCure


Where are Top Investors investing


Top Investor by Stage of Entry


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Company List

Team

20

20


Top IPOs in last three years


Major Acquisitions in last one year


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Company List

Team

23

23


September 2016Tracxn BlueBox : Immuno-Oncology 400+ companies in the sector, 343 funded in last 5 years, over $5.7B invested in 2015-16


Top Business Models by Funding

$6.5B

$1.5B $1.5B$1.1B

$536M $425M $264M $131M

0

1400

2800

4200

5600

7000

Antibody Adoptive Cell Therapy Vaccine Suite Oncolytic Virus Small Molecule Cytokines Others

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

# Cos. 174 30 95 31 28 20 7 16

Avg. Age 2005.8 2009.5 2005.7 2006.8 2007.9 2008.8 2002.9 2005.8

Stemcentrx NantKwest CureVac Immatics BioVex Syndax IRX Therapeutics Iconic Therapeutics

Symphogen Juno Therapeutics Argos Therapeutics BeiGene PsiOxus Therapeutics VentiRx Armo BioSciences Molecular Templates


Antibody – Business Model Description

26


Antibody – Entrepreneur Activity and Investment Trend


Antibody – Most Funded Companies


Adoptive Cell Therapy – Business Model Description

29


Adoptive Cell Therapy – Entrepreneur Activity and Investment Trend


Adoptive Cell Therapy – Most Funded Companies


Vaccine – Business Model Description

32


Vaccine – Entrepreneur Activity and Investment Trend


Adoptive Cell Therapy – Most Funded Companies


Suite – Business Model Description

35


Suite – Entrepreneur Activity and Investment Trend


Suite – Most Funded Companies


Oncolytic Virus – Business Model Description

38


Oncolytic Virus – Entrepreneur Activity and Investment Trend


Oncolytic Virus – Most Funded Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Company List

Team

41


Interesting Unfunded Companies

Company Overview Business Model

immunophotonics.comAurora Biopharma

(2016, Miami)CAR T cell based immunotherapies for solid cancers. Adoptive Cell Therapy > T Cell

batubiologics.comChestnut Pharmaceuticals

(2015, Toronto)

Developing novel therapeutics for metastatic cancers employing a comprehensive approach to reverse the metastatic state of tumor cells.

Antibody > Tumor-targeting

affinicon.comAR Pharma

(2015, Woburn)Monoclonal antibody to treat B-cell chronic lymphocytic leukemia Antibody > Suite

AngioClast(2015, Cambridge (UK))

Developing antibody drug conjugate for treatment of Glioblastoma multiforme.Antibody > Tumor-targeting > Antibody Drug Conjugates

GO Therapeutics(2013, Cambridge (US))

Developing tumor-specific antibodies for cancer immunotherapy based on cancer glycoproteome.

Antibody > Tumor-targeting

Curated list of companies by the sector analyst are defined as Interesting


Interesting Seed Companies


Interesting Series A Companies


Interesting Series B Companies


Interesting Late Stage Companies


Top Funded Deadpooled Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Company List

Team

4848


Immuno-Oncology – Company List

COVERS THE FOLLOWING SECTORS

Small Molecule

Cytokines Antibody VaccineOncolytic

VirusAdoptive Cell

TherapyOthers Suite


Small Molecule (1/6)

Small Molecule Cytokines Antibody Vaccine Oncolytic Virus Adoptive Cell Therapy Others Suite

Company Details Funding Investors

Immunosuppressive Pathway Inhibitors

Syndax [Waltham, 2005]: Syndax is a late-stage biopharmaceutical company developing entinostat as acombination therapy in multiple cancer indications with an initial focus on tumors that have shownsensitivity to immunotherapy, including lung cancer, melanoma and triple negative breast cancer. Entinostat(phase3, breast cancer), its lead drug candidate is an oral, small molecule that has direct effects on bothcancer cells and immune regulatory cells, potentially enhancing the body's immune response to tumors.

$158.65M

Fidelity Investments, Orbimed, Avalon Ventures, MPM Capital, Domain

Associates, Pappas Ventures, Forward Ventures, Tavistock Group, Jennison

Associates, Arrowpoint Partners, RusnanoMedInvest, Delos Capital,

EcoR1, Pappas Capital


Flexus Biosciences [San Carlos, 2013]: Flexus Biosciences focuses on small-molecule cancerimmunotherapies: IDO & TDO Inhibitors (Immune Response Checkpoint Modulators) that target regulatory Tcells. The company utilizes immunology techniques to identify Agents for Reversal of TumorImmunosuppression (ARTIS). Flexus has a proprietary IDO/TDO discovery program which includes its IDO-selective, IDO/TDO dual and TDO-selective compound libraries. Cancer cells use IDO and TDO pathways tosuppress the host’s immune response in order to facilitate survival, growth, invasion, and metastasis ofmalignant cells. The company has been acquired by Bristol-Myers Squibb on Feb 2015 ($800M upfront and$450M in milestone payments).

$47MKPCB, The Column Group, Celgene,

The Column Group


Ideaya Biosciences [San Francisco, 2015]: Ideaya Biosciences is an oncology-focused company committed tothe discovery of personalized synthetic lethality medicines targeting DNA damage and repair for geneticallydefined patient populations and immuno-oncology therapies targeting the tumor microenvironment.Synthetic lethality is a phenomenon where the independent loss-of-function of two different genes have nosignificant effects on cell growth and viability, but when combined results in robust cell death. It will focuson novel synthetic lethal interactions for genetically defined patient populations, exploiting inherent tumorsusceptibilities en-route to discovery and development of small-molecule agents to treat major humancancers. It also focusses on modulating DNA repair to augment response to immunotherapy. In addition,drug discovery programs will target pathways known to produce an immune suppressed tumormicroenvironment, enabling tumors to escape recognition by the host immune system.

$46M

Canaan Partners, Celgene, 5AM Ventures, Alexandria Real Estate Equities, NIBR, WuXi Healthcare

Ventures

http://www.syndax.com/

http://www.flexusbio.com/

http://www.ideayabio.com/






NewLink Genetics [Ames, 1999]: NewLink Genetics is discovering and developing novel immuno-oncologyproduct candidates using its checkpoint inhibitor platform. The company is developing IDO pathwayinhibitors for the treatment of cancer. The indoleamine 2,3-dioxygenase (IDO) pathway regulates immuneresponse by suppressing T-cell function and enabling local tumor immune escape. It is developing two IDOpathway inhibitors—GDC-0919 (in partnership with Genentech) and indoximod. Indoximod is beingdeveloped in combination with antibodies and chemotherapy for the treatment of breast cancer (Phase 2),pancreatic cancer (Phase 2), glioblastoma (Phase 2), melanoma (Phase 2).

$24.5MIowa Capital Management, Ames

Economic Development Commission


Confluence Life Sciences [St. Louis, 2010]: Confluence Life Sciences (CLS) is a drug discovery and earlydevelopment company which is focusing on developing kinase inhibitors using its proprietary technology. Itsplatform KINect claims to accelerate the identification of drug candidates targeting active-site cysteine-containing kinases. The platform has a thiol-directed chemical library of protein kinase inhibitors which hasbeen utilized in multiple drug discovery programs. Its internal development pipeline has programs for cancerimmunotherapy and autoimmune diseases (IL-2 Inducible T-Cell Kinase (ITK) / Tyrosine-protein Kinaseinhibitors). It is also developing programs for inflammation and cancer externally in partnership with otherpharmacy companies.

$12.81MBioGenerator, Helix Funds, Missouri Technology, Mercury Fund, Epidarex

Capital, St Louis Arch Angels


TPP Global Development [Edinburgh, 2008]: IOmet (previously named TPP) is a UK-based preclinical-stagedrug development company focused on cancer immunotherapy and metabolism. IOmet has acomprehensive pipeline of IDO, TDO and dual-acting IDO/TDO inhibitors and novel GLUT1 inhibitors. IOmetis pursuing a number of other undisclosed cancer immunotherapy and cancer metabolism targets, inaddition to a GLUT9 inhibitor program for the treatment of gout. Effective January 11, 2016, IOmet Pharmais a wholly owned subsidiary of Merck & Co., Inc.

$12.2M Scottish Enterprise


Xios Therapeutics [Boston, 2015]: Xios Therapeutics is a biotechnology company focussed on developingsmall molecule therapies for cancer. It is developing drugs which are capable of preventing tumors fromevading the immune system and targets the immuno-oncology pathways and mechanisms which can be thepotential therapeutic target for cancer treatment.

$6M Sutter Hill Ventures

http://www.linkp.com/

http://www.confluencelifesciences.com/

http://www.tppgd.com/

http://www.xiostx.com/






Partikula [Miami, 2013]: Partikula is focused on developing novel mitochondrial-targeted therapeutics foroncology using its chemical engineering technologies. It is developing programs which affect the proteinspresent in and around mitochondria. Its portfolio candidates include KULA 18 and KULA 19 which inhibitspyruvate dehydrogenase kinase (PDK) and Hexokinase respectively; KULA-200, a small peptide targeted toinhibit the anti-apoptotic protein Bcl-2; KULA-300 cancer chemotherapeutics and KULA-101, a tumorMicroenvironment Modifier (TMEM) for cancer immunotherapy. It is planning to begin clinical studies of itslead programs in late 2016.

$5.7M 2M Companies


ImmunoMet Therapeutics [Houston, 2015]: ImmunoMet Therapeutics (a spinoff of HanAll Biopharma) is adevelopment-stage biotechnology company developing oncology products with a focus on cancermetabolism and immuno-oncology. Its novel technology is designed to disrupt cancer cell growth andenhance anti-cancer immunity and may be used in a broad range of difficult-to-treat cancers. Its lead cancermetabolism compound, IM156, an OXPHOS inhibitor, for the treatment of glioblastoma (brain cancer) isexpected to enter Phase 1 clinical development in the second half of 2016.

$5.2M Mirae Asset


Aminex Therapeutics [Kenmore, 2009]: Aminex Therapeutics is developing cancer immunotherapies. Thecompany is developing a class of immunotherapies known as suppressor class modulators. Its lead candidatereduces polyamine uptake in cancer cells, which in turn leads to reduction in the number of myeloid-derived suppressor cells. As a result, the innate immune system can then be triggered to attack cancer cells.Its lead candidate AMX-513 consists of two drugs, an FDA approved polyamine synthesis inhibitor (DFMO,difluoromethylornithine) and a novel potent polyamine uptake, or transport, inhibitor (AMXT 1501).

$4M


Oncofactor [Seattle, 2011]: Oncofactor develops cancer therapeutics that disrupt signaling pathwaysbetween tumors and the immune system. The company is developing an oncology platform to identify andtarget immune modulating proteins deferentially expressed by cancer cells. The company claims thattargeting these oncofactors will reveal cancer to the host immune system and permit clearance by nativeimmunity.

$3.1M

OVP Venture Partners, ARCH Venture Partners, Alexandria Real Estate

Equities, Accelerator, Washington Research Foundation, Amgen

http://www.partikula.com/

http://www.immunomet.com/

http://www.aminextx.com/

http://www.oncofactor.com/











Cytokines (1/2)



Cytokines (2/2)



Antibody (1/43)



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Vaccine (1/23)



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Vaccine (14/23)



Vaccine (15/23)



Vaccine (16/23)



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Vaccine (18/23)



Vaccine (19/23)



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Oncolytic Virus (1/7)





















Adoptive Cell Therapy (1/8)
























Others (1/5)



Others (2/5)



Others (3/5)



Others (4/5)



Others (5/5)



Suite (1/9)



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Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Company List

Team

153


Team

154

Shubham Garg

Analyst, BioPharma

Vikash Peesapati

Lead Analyst, Life Sciences

https://www.linkedin.com/in/shubhamgarg642

https://www.linkedin.com/in/shubhamgarg642

http://www.twitter.com/tracxnhealth


https://www.linkedin.com/in/vikashpeesapati

https://www.linkedin.com/in/vikashpeesapati



Data & Analytics

Tracxn Research — Immuno-Oncology Landscape, September 2016