Since 2014, Oncoceutics has raised multiple rounds of equity financing, led by Spring Mountain Capital, LP, a New York-based investment management firm. SMC has invested through the firm’s private equity group and Raymond Wong, Managing Director and Head of Private Equity at SMC, is a member of the Oncoceutics’ Board of Directors.
Spring Mountain Capital has been joined in its investment by two of Oncoceutics’ service providers, Calvert Labs and Frontida Biopharma, as well as individual private investors. Calvert Labs provides toxicology services to the company, and has been an investor in the company since 2014. Frontida Biopharma provides commercial scale drug manufacturing for the company and has been an investor since 2017.
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 development of its lead candidate, ONC201 and the rest of the imipridone class.