OnCusp Therapeutics

Overview

OnCusp Therapeutics is a biopharmaceutical company specializing in transforming cutting-edge preclinical innovations into clinically validated cancer treatments. Founded in April 2021, the company is based in New York City. It was established by Dr. Bing Yuan, who serves as its CEO, along with co-founders Eric Slosberg and Andy Fu. As of October 2024, OnCusp has raised a total of $139 million in funding, including a prominent $100 million Series A round that was oversubscribed and led by investors like Novo Holdings, OrbiMed, and F-Prime Capital.

Recent Developments

March 6, 2024: OnCusp announced that the first patient was dosed in the Phase 1 trial of CUSP06, targeting platinum-refractory/resistant ovarian cancer and other advanced solid tumors. This marks OnCusp's transition into a clinical-stage company.
January 4, 2024: The company raised an oversubscribed $100 million in Series A financing. The funding was aimed at advancing CUSP06 and expanding its portfolio. Key investors included Novo Holdings and OrbiMed.
August 15, 2023: OnCusp received FDA clearance for the Phase 1 clinical trial of CUSP06, a critical milestone that paved the way for initiating human trials.
June 8, 2022: OnCusp entered into an ex-China licensing agreement with Multitude Therapeutics for the development of CUSP06. This agreement enabled OnCusp to lead global development and commercialization efforts for CUSP06 outside of China.

Attribute	Information
Founding Date	April 2021
Headquarters	New York City, New York, USA
Founders	Dr. Bing Yuan, Dr. Eric Slosberg, Dr. Andy Fu
Revenue	<$5 million
Key Investors	Novo Holdings, OrbiMed, F-Prime Capital
Industry	Biopharmaceuticals
Number of Employees	Less than 25

Early History

OnCusp Therapeutics was founded with the vision of addressing the unmet needs in cancer treatment by leveraging preclinical innovations and translating them into clinical-stage therapies. In its founding year, the company secured $25 million in seed funding led by Sequoia Capital China and BioTrack Capital. This capital was utilized to set up its operations and build a strong pipeline of oncology assets through strategic partnerships and licensing agreements.

Company Profile and Achievements

OnCusp Therapeutics aims to advance promising oncology assets to the clinical proof-of-concept stage before partnering these candidates for commercialization. Its lead candidate, CUSP06, is a CDH6-targeting antibody drug conjugate (ADC) with a protease-cleavable linker and an exatecan payload. Key milestones include securing FDA IND clearance for CUSP06, enabling it to enter clinical trials. The company focuses on harnessing its founders' expertise in drug development and business strategy to shorten timelines and reduce the risks associated with early-stage drug development.

Current Operations and Market Position

OnCusp is currently conducting Phase 1 clinical trials for CUSP06 while continuing to expand its pipeline of oncology treatments. The company maintains a competitive edge through its strategic global partnerships and strong team of translational and clinical development professionals. Despite being a startup, OnCusp has made significant strides in the biopharmaceutical market, attracting substantial venture capital investments and achieving key regulatory milestones.

Oncusp Therapeutics Stock

OnCusp Therapeutics remains a privately held company, and no public stock ticker or symbol is currently available. While trading of its shares on secondary markets is limited, the company has successfully raised significant venture capital, indicating strong investor confidence in its business model and pipeline potential.

Oncusp Therapeutics Series A

The $100 million Series A round concluded in January 2024 was a major milestone for OnCusp Therapeutics. Co-led by Novo Holdings, OrbiMed, and F-Prime Capital, this financing is aimed at progressing CUSP06 through clinical trials, validating its potential as a novel cancer therapy, and expanding its development portfolio.

Conclusion

OnCusp Therapeutics is positioned as an emerging player in oncology, driven by innovation and robust partnerships. With its focus on ADCs and a clear path towards clinical development, the company is strategically poised to advance novel treatments that could significantly impact cancer care. As it progresses with the development of CUSP06 and other pipeline assets, OnCusp is expected to continue leveraging its strategic partnerships and funding to play a transformative role in the biopharmaceutical industry.