July 12, 2018

Compass Therapeutics Closes on Series A Financing Totaling $132 Million

Cambridge, Massachusetts-based Compass Therapeutics closed on the final $49 million of its $132 million Series A financing. The round was led by OrbiMed Advisors and included F-Prime Capital, Cowen Healthcare Investments, Thiel Capital, Biomatics Capital, Ulysses Holdings, Borealis Ventures, Alexandria Venture Investments and Biomed Realty Ventures.

Compass Therapeutics focuses on identifying antibody drug candidates, with an initial focus on T cells, NK cells and macrophages. It has antibody discovery and bispecific engineering platforms, including StitchMabs, its proprietary high-throughput bispecific screening platform that allows for rapid identification of synergistic bispecific activity.

The company’s lead product is CTX-471, which is currently in late IND-enabling studies. Compass plans to take the compound into the clinic in the first half of 2019. The company states, “It has been tested across multiple in vitro and in vivo models and has consistently shown potent and durable curative activity as a single agent, in combination with other immune-modulatory agents and with tumor-targeting therapies. In addition, in stringent high tumor burden therapeutic models, CTX-471 has led to complete tumor rejections and the generation of long-term, protective immunological memory.”

The funds raised will be used to push CTX-471 into the clinic as well as to identify two more clinical candidates by the end of this year. They hope to take the second and third compounds into the clinic by early 2020.

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