BRIEF—ONK Therapeutics closes $21.5 million Series A financing

ONK Therapeutics, an Ireland-headquartered innovative NK cell therapy platform company, today announced the closing of its $21.5 million Series A financing, led by current investors Acorn Bioventures and ALSHC, who were joined by Cormorant Asset Management.

The financing will enable ONK to maintain its strong momentum as it advances pre-clinical programs through comprehensive investigational new drug (IND)-enabling studies, including in-vivo proof-of-concept models across multiple programs. ONK will also continue progress towards a GMP manufacturing capability, as it optimizes both its proprietary cell engineering platform and process development.

ONK’s pipeline currently has three programs in pre-clinical development across both hematological malignancies and solid tumors.

The company is pioneering optimally engineered natural killer (NK) cell therapies, utilizing a suite of engineering strategies to optimize cytotoxic potential, metabolic health and persistence of NK cells, while reducing the potential for their exhaustion in the tumor microenvironment.