Aduro Announces $6.5 Million Financing

BERKELEY, Calif.--(BUSINESS WIRE)--Aduro BioTech, Inc. announced today that it has completed an equity financing primarily from its current investors and has secured an investment of $6.5 million.

“We are very pleased with the rapid progress we have made in the past year, “ said Stephen Isaacs, chairman and chief executive officer of Aduro. “This financing will help fund further execution and expansion of Aduro’s targeted immunotherapy development efforts.”

In 2012, Aduro had several notable accomplishments:

• Early completion of enrollment of a randomized, controlled Phase 2 trial of the sequential administration of two cancer vaccines, Aduro’s CRS-207 and GVAX Pancreas Cancer Vaccine, in patients with metastatic pancreatic cancer
• Initiation of a Phase 1B trial of CRS-207 in patients with malignant pleural mesothelioma
• Initiation of a new preclinical program based on cyclic dinucleotides (CDNs), which are potent immune modulators with broad application in both therapeutic and prophylactic vaccines

“We are very pleased with the rapid progress we have made in the past year, “ said Stephen Isaacs, chairman and chief executive officer of Aduro. “This financing will help fund further execution and expansion of Aduro’s targeted immunotherapy development efforts.”

About Aduro BioTech, Inc.

Aduro BioTech, Inc. has three interconnected and complementary vaccine platforms that provide breadth and depth in developing vaccines for cancer, infectious diseases and biodefense: (a) live, attenuated Listeria monocytogenes, (b) GVAX and (c) cyclic dinucleotides (CDNs). The company’s lead program is a randomized, controlled Phase 2 clinical trial of the sequential administration of Listeria-based CRS-207 and GVAX Pancreas in patients with metastatic pancreatic cancer. In addition, the company is conducting a Phase 1B trial with CRS-207 in patients with malignant pleural mesothelioma. The company is also evaluating the synergistic combination of CDNs and GVAX in preclinical tumor models. Moreover, the company’s pipeline also includes preclinical programs in glioblastoma, prostate cancer, malaria, HBV and tularemia.