Entrepreneurs are a rare breed. It takes a special amount of hustle, optimism, and guts to embark on a business venture that will change the world, and immuno-oncology is no exception. Immuno-oncology is a type of cancer treatment that uses our body’s immune system to prevent or control cancer. It’s an important, noble pursuit, and it’s no wonder entrepreneurs everywhere are flocking to the industry in order to bring about change.
Immuno-Oncology Companies to Watch
Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the most exciting immuno-oncology startups of 2024 that startup-lovers, investors, and aspiring entrepreneurs should follow.
Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.
1. Odyssey Therapeutics
- Location: Boston, Massachusetts
- Founder(s): Dr. Gary D. Glick
- Founded In: 2018
- Funding: Series C, $503 Million
- Investors Include: Ascenta Capital, Balderton Capital, BlackMars Capital
Odyssey Therapeutics is new to the immuno-oncology scene, but don’t let that deter you in any way. CEO and founder Gary Glick has an extensive background in immunotherapy and startups, including experience as a chemistry professor at the University of Michigan.
Glick’s goal is to transform immunotherapy as we know it by addressing current drug limitations and working to overcome them. With over 30 years of expertise under his belt, Odyssey Therapeutics is a startup worthy of your attention in the coming years.
2. Dragonfly Therapeutics
- Location: Waltham, Massachusetts
- Founder(s): Dr. David Raulet, William Haney, Dr. Tyler Jacks
- Founded In: 2016
- Funding: Early Stage VC, $33 Million
- Investors Include: Agent Capital, Emerson Collective, Bramalea Partners
Dragonfly Therapeutics (Dragonfly) is a biotech startup that develops novel immunotherapies based on Natural Killer (NK) cell biology. The company’s Tri-specific NK cell Engager Therapy (TriNKET) platform aims to harness the power of NK cells to create more effective cancer treatments. Dragonfly has partnerships with several major pharmaceutical companies and is advancing multiple candidates through preclinical and clinical development.
3. TILT Biotherapeutics
- Location: Helsinki, Finland
- Founder(s): Dr. Akseli Hemminki
- Founded In: 2013
- Funding: Series A, $56.5 Million
- Investors Include: Lifeline Ventures, Business Finland, European Innovation Council (EIC)
TILT Biotherapeutics is a Finnish biotech company born out of the University of Helsinki and has a presence in Cambridge, Mass.. The company is developing novel oncolytic immunotherapies for cancer treatment. TILT’s approach combines oncolytic viruses with tumor-targeting T cells to enhance the body’s immune response against cancer. TILT’s lead candidate, TILT-123, is an adenovirus armed with cytokines and is being evaluated in clinical trials for solid tumors.
4. Asher Bio
- Location: South San Francisco, California
- Founder(s): Dr. Ivana Djuretic, Dr. Andy Yeung
- Founded In: 2019
- Funding: Series C, $218 Million
- Investors Include: AstraZeneca, Emles Venture Partners, Alexandria Venture Investments
Scientists and drug developers have been trying to find a way to direct the immune system to treat diseases for a long time. Asher Bio is working to transform this complex system with its novel immunotherapy treatment that isolates only the immune cells that have the best therapeutic effect. Its best-in-class IL2 therapy is used to target cancerous cells, while its AB248 treatment is designed to attack tumors.
5. Triumvira
- Location: Austin, Texas
- Founder(s): Dr. Christopher Helsen, Dr. Jonathan Bramson, Brian Bloom
- Founded In: 2015
- Funding: Series A, $168 Million
- Investors Include: B Capital Group, ATEM Capital, Myeloma Investment Fund
Triumvira’s goal is to empower our body’s natural defenses to combat cancer through T-cell therapy. With an expert team of medical professionals at the helm, Triumvira has created its own exclusive T-cell treatment so that these cells can target cancer while still maintaining the T-cell’s essential functions. By harnessing the natural power of our T-cells, Triumvira aims to overcome current barriers to these therapy treatments.
6. Marengo Therapeutics
- Location: Cambridge, Massachusetts
- Founder(s): Dr. Andreas Loew
- Founded In: 2015
- Funding: Series B, $119 Million
- Investors Include: Apple Tree Partners
Marengo Therapeutics also uses state-of-the-art T-cell technology in order to protect your body from cancer. However, in addition to combatting this awful disease, its goal is to completely eradicate it from the body once your cells have been treated. While T-cell research has come a long way in the last few years, Marengo is committed to creating durable immune systems that are protected for life.
7. Inimmune
- Location: Missoula, Montana
- Founder(s): Dr. Jay Evans, Dr. David Burkhart, Dr. Kendal Ryter, Dr. Helene Bazin-Lee
- Founded In: 2016
- Funding: Grant, $22 Million
- Investors Include: McWin Partners, Two Bear Capital, MonTEC
Inimmune is a startup that knows if we want to find a cure for cancer, we can’t do it alone. They’ve partnered with an expert team of immunologists, chemists, and formulation scientists to create new, lasting immunotherapies. While its research is mainly aimed at treating cancer patients, its therapy offerings will also help treat allergies, upper respiratory infections, and other autoimmune disorders.
8. Catamaran Bio
- Location: Boston, Massachusetts
- Founder(s): Dr. Catherine Bollard, Dr. Branden Moriarity, Dr. Kevin Pojasek, Dr. Timothy Harris
- Founded In: 2020
- Funding: Series A, $42 Million
- Investors Include: Takeda Ventures, Astellas Venture Management, Lightstone Ventures
Catamaran Bio is a company using NK cell therapy to target cancer in the body. Its patented Tailwind platform incorporates a robust technology suite with medical research in order to develop incredibly potent immunotherapies. It’s clear that this immuno-oncology pioneer is one worth watching as they develop.
9. SpyBiotech
- Location: Oxford, United Kingdom
- Founder(s): Sumi Biswas, Jing Jin, Mark Howarth, Simon Draper
- Founded In: 2017
- Funding: Series A, $52.4 Million
- Investors Include: Braavos Investment Advisers, Oxford Sciences Innovation, GV
SpyBiotech is utilizing a unique superglue protein technology in order to develop vaccines that fight multiple diseases, including cancer. Aptly named the “SpyCatcher/SpyTag” technology, this startup’s solution is one that sticks. This viral technology is designed to “glue” antigens to disease particles in the body so your immune system can better identify and fight them.
10. Vyriad
- Location: Rochester, Minnesota
- Founder(s): Dr. Kah-Whye Peng, Dr. Shruthi Naik, Dr. Stephen Russell, Dr. Glen Barber
- Founded In: 2015
- Funding: Series B, $100 Million
- Investors Include: Mayo Clinic Ventures, Stine Seed Company, Southeast Minnesota Capital Fund
Vyriad is a biopharmaceutical company focused on developing oncolytic virus therapies for cancer treatment. They engineer viruses to selectively infect and destroy cancer cells while stimulating the immune system to fight tumors. Vyriad’s lead candidate, Voyager-V1, is based on the vesicular stomatitis virus and is being tested in clinical trials for various cancer types.
