Checkmate Pharmaceuticals Secures $85 Million in Series C Financing

Funding Supports Further Clinical Development of Checkmate Pharmaceuticals TLR9 Agonist, CMP-001, in Melanoma and other Oncology Indications

June 10, 2020 07:00 AM Eastern Daylight Time

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Checkmate Pharmaceuticals (Checkmate), a clinical stage biotechnology company focused on improving patients’ lives with its novel approach to cancer immunotherapy, announced that it has completed an $85 million Series C financing. Checkmate plans to use the proceeds from the financing to support the continued clinical development of CMP-001 in anti-PD-1 refractory melanoma as well as to pursue studies in additional indications, such as front-line melanoma and head and neck squamous cell carcinoma.

The Series C financing was led by Longitude Capital and Novo Holdings. They were joined by other new investors including Medixci, Omega Funds, Clough Capital Partners, Sectoral Asset Management and BrightEdge, the venture investment fund of the American Cancer Society. Checkmate’s existing investors Sofinnova Investments, venBio Partners, F-Prime Capital, and Decheng Capital also participated in the financing.

Oren Isacoff, M.D., of Longitude Capital, and Nilesh Kumar, Ph.D., of Novo Ventures, will join the company’s Board of Directors.