A

ARMO Bio Sciences

Biotech & Life Sciences · Palo Alto, United States · Founded 2013 · IPO 2018

ARMO BioSciences operated as a late-stage immuno-oncology company, concentrating on the development of proprietary product candidates intended to activate the immune systems of cancer patients to identify and eliminate tumors. The company was founded in 2012, originally as Targenics, Inc., by Dr. Peter Van Vlasselaer, a seasoned biotech entrepreneur with a Ph.D. in Immunology. Dr. Van Vlasselaer has a notable history of founding and leading several biotechnology firms to successful acquisitions, including Avidia (acquired by AMGEN), Arresto Biosciences (acquired by Gilead), and iPierian (acquired by BMS). The company's business model was centered on advancing a pipeline of immunotherapies through clinical trials to gain regulatory approval and commercialize them. Its primary asset was pegilodecakin (AM0010), a long-acting form of recombinant human Interleukin-10 (IL-10). This therapy was designed to stimulate the survival and proliferation of CD8+ T-cells, or killer T-cells, which are crucial for recognizing and destroying cancer cells. By increasing the number of these T-cells within a tumor, the therapy aimed to improve patient prognosis and survival. Pegilodecakin received Orphan Drug designation from both the U.S. FDA and the European Commission for the treatment of pancreatic cancer. ARMO's pipeline also included other preclinical candidates like AM0001 (an anti-PD-1 monoclonal antibody) and AM0003 (an anti-LAG-3 checkpoint inhibitor). The company's strategy involved exploring its lead candidate both as a single agent and in combination with chemotherapy and other checkpoint inhibitors across various cancer types, including pancreatic, lung, and renal cell cancer. A significant milestone for ARMO BioSciences was its Initial Public Offering in January 2018. Shortly after, in May 2018, Eli Lilly and Company announced a definitive agreement to acquire ARMO for approximately $1.6 billion in an all-cash transaction, which was completed in June 2018. This acquisition integrated ARMO's promising clinical immunotherapy assets, particularly pegilodecakin, into Lilly's oncology portfolio. Keywords: immuno-oncology, pegilodecakin, CD8+ T-cells, cancer therapy, interleukin-10, clinical trials, biopharmaceutical, oncology pipeline, pancreatic cancer, Eli Lilly acquisition