In September 2014, Oncoceutics completed a seed financing, led by Spring Mountain Capital, LP, a New York-based investment management firm. The funding was conducted through SMC’s private equity group with the participation of Calvert Holdings and additional private investors. Raymond Wong, Managing Director and Head of Private Equity at SMC, joined Oncoceutics’ Board of Directors.
In October 2015, Spring Mountain Capital significantly increased their commitment to the company by leading a Series A financing, with participation from other existing investors.
Oncoceutics has used the proceeds of the equity financing, in conjunction with non-dilutive grant awards, public-private partnerships, and academic alliances in which prestigious institutions fund its development programs, to accelerate the Phase I and Phase II clinical development of its lead candidate, ONC201.