BRIEF—Oncorus raises $79.5 million in series B round

Cambridge, USA-based Oncorus has raised $79.5 million in a series B financing round. The oncolytic virus specialist received money from Cowen Healthcare Investments and Perceptive Advisors, among others.

Chief executive Ted Ashburn said: “We intend to use the proceeds from this oversubscribed financing to support our advancement of novel, proprietary intratumoral and intravenous approaches with the goal of addressing severe unmet medical needs in oncology.”

The firm says it will advance its lead candidate, ONCR-177, into the clinic in early 2020. The candidate is being developed for multiple solid tumor indications.