Co-led by Canaan Partners and Red Tree Venture Capital, the financing round included significant investment from Johnson & Johnson Innovation – JJDC.
SV Health Investors and Novo Holdings are some of the additional investors in the round.
Rondo intends to use the funds to continue its preclinical pipeline development to advance the company’s lead bispecific antibody candidates toward the first Phase I clinical trials.
With a focus on treating solid tumours, the company is committed to advance the immuno-oncology field.
It focuses on addressing the significant unmet requirement for new immunotherapy approaches which have the capability to treat solid tumours.
By engaging the immune system of a patient for eliminating tumour cells, the T-cell engagers and other bispecific antibodies have succeeded in treating hematologic cancers, the company noted.
Rondo Therapeutics co-founder and chief scientific officer Nathan Trinklein said: “T-cell engagers targeting CD3 have successfully exploited the first signal in T-cell receptor signalling to treat liquid tumours, significantly expanding the treatment options for these cancers.
“However, solid tumours represent a much greater unmet clinical need that has yet to benefit from advances in immune-engaging bispecific antibodies.
“At Rondo we are building an exceptional team supported by world-class investors to develop unique bispecific platforms that stimulate a variety of downstream immune pathways with the intent of treating solid tumours.”
Furthermore, the company is committed to use its immuno-stimulatory platform for the development of therapies to treat solid tumours.