Checkmate Pharmaceuticals, a clinical stage immuno-oncology biotech developing therapies for solid tumors, filed on Friday with the SEC to raise up to $75 million in an initial public offering.
The company's sole candidate, CMP-001, is a differentiated Toll-like receptor 9 agonist delivered as a biologic virus-like particle utilizing a CpG-A oligonucleotide as a key component. The company states that its goal is to establish CMP-001 as a foundational immuno-oncology therapy for patients with a broad range of solid tumors. To date, CMP-001 has been studied in more than 200 melanoma patients. In its Phase 1b trial for advanced anti-PD-1 refractory melanoma, in combination with pembrolizumab and as a monotherapy, the company has observed a best objective response rate of 28%.
The Cambridge, MA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol CMPI. Checkmate Pharmaceuticals filed confidentially on May 13, 2020. BofA Securities, Jefferies, BMO Capital Markets, and BTIG are the joint bookrunners on the deal. No pricing terms were disclosed.
