ALX Oncology Announces Closing of $105 Million Series C Financing

Proceeds to Advance and Expand ALX148 Clinical Program

DUBLIN, Ireland and BURLINGAME, Calif. – February 12, 2020 – ALX Oncology, a clinical-stage immuno-oncology company developing therapies to block the CD47 checkpoint mechanism, today announced the closing of a $105 million Series C equity financing. Vivo Capital was the lead investor with other new investors including funds managed by Logos Capital, Janus Henderson, Foresite Capital, Cormorant Asset Management, BVF Partners, and investor HBM Healthcare Investments. Existing investors venBio and Lightstone Ventures also participated in the financing.

Financing proceeds will support the expansion of the clinical development of ALX148, a next generation CD47 myeloid checkpoint inhibitor, in combination with anti-cancer therapeutics, into additional solid tumor and hematologic indications.

As part of the Series C financing, Jack B. Nielsen, M.Sc., Managing Director of Vivo Capital, and Graham Walmsley, M.D., Ph.D., Co-Founder and General Partner of Logos Capital, will be joining the Board of Directors.