Novo Holdings, others led $100 M Series A funding raised by OnCusp Therapeutics

A number of investors, including Novo Holdings, OrbiMed, and F-Prime Capital, helped OnCusp Therapeutics raise US $100 million in a series A round.

The US-based biopharmaceutical company, which is present in China, will appoint new executives to its board as part of the raise. Following the funding, Chong Xu from F-Prime Capital, Diyong Xu from OrbiMed, and Karen Hong from Novo Holdings will all join.

OnCusp Therapeutics is a cancer treatment development company that specializes in turning pre-clinical research into viable medications.

The money will be utilized to develop the company’s antibody medication, CUSP06, which aids in the treatment of ovarian cancer. The funding will also enable OnCusp to expand its staff and portfolio. The FDA has granted the startup approval for the CUSP06 phase one trial.

Eric Slosberg from Daiichi Sankyo and Bing Yuan and Andy Fu from CStone Pharmaceuticals co-founded the company, which was established in 2021.

Among the investors in OnCusp’s US $25 million seed round that same year were AIHC Capital, HongShan, BioTrack Capital, and Oriza Seed Capital.