OncoArendi Therapeutics was founded in 2012. Following the Founders seed and in-kind contributions, OncoArendi raised a seed and two series A rounds of financing followed by a successful IPO on the Warsaw Stock Exchange (WSE) in April of 2018, raising a total of 91 million PLN approx. 24 million USD, based on averaged variable exchange rate over the last 7 years.
In addition OncoArendi has been able to significantly leverage the private capital raised with non-dilutive grants, with total funding of about 183 million. This funding was received from Polish and international funding agencies including the National Center for Research and Development (NCBR, Poland), The National Institutes of Health (NIH, USA), The European Commission and the Polish Agency of Enterprise Development (PARP).
This funding has allowed OncoArendi Therapeutics to progress the first of its programs (OATD-01) to Phase II of its other three ongoing programs up to pre-IND stage, lead optimization and early discovery, respectively.