On December 19, 2024, Ottimo Pharma, a biotech company pioneering bifunctional medicines to extend the lives of people living with cancer, announced the completion of a $140 million Series A financing. OrbiMed, Avoro Capital, and Samsara BioCapital led the round with additional participation from RTW Investments, Decheng Capital, Janus Henderson Investors, J.P. Morgan Life Sciences Private Capital, Invus, and founding investor Medicxi. Wilson Sonsini Goodrich & Rosati advised OrbiMed on patent due diligence matters related to the transaction.

The funds will be used to accelerate the development of Jankistomig, a first-of-its-kind antibody for treating various solid tumors. Along with the funding, Ottimo has expanded its management team and plans to file an Investigational New Drug application for Jankistomig in late 2025.

The Wilson Sonsini team that advised OrbiMed on patent matters related to the transaction was led by Rachna Ujwal, Mike Hostetler, Shu Boboila, and Tina Xiang.

For more information, please see Ottimo Pharma's news release. Additional coverage can be found on BioPharma Dive.