OncoArendi Therapeutics was incepted in 2012. Following the Founders seed and in-kind contributions, in January 2014 OncoArendi Therapeutics closed an Angel investment round of about 3.5 million PLN (over 1 million USD at the time).
On January 15, 2015 Michał Sołowow invested in OncoArendi via the IPOPEMA 112 FIZAN fund as the lead investor of the Series A investment round. The Series A investment of 12 million PLN (over 3.5 million USD at the time) has enabled OncoArendi to support its key discovery programs through IND phase (expected in 2017).
Recently (January 25, 2015), following its transformation to a common stock company (S.A.), OncoArendi Therapeutics has raised a Series A extension of 18 million PLN (about 4.5 million USD).
OncoArendi has been able to significantly leverage the private capital raised with non-dilutive grants. To date OncoArendi was been awarded with numerous grants from the Polish National Centre for Research and Development (NCBR), Polish Agency for Enterprise Development (PARP), The European Commission (Horizon2020) and the National Institutes of Health (NIH, SBIR) with total funding exceeding 100 million PLN (almost 30 million USD, based on averaged variable exchange rate over time).
The total (private and public) funding raised should allow OncoArendi Therapeutics to progress four of its ongoing programs up to Phase II clinical trials and fill its pipeline with new, early stage exploratory programs.