ARMO BioSciences is a technology company.
ARMO BioSciences has raised $167.0M across 4 funding rounds.
ARMO BioSciences has raised $167.0M in total across 4 funding rounds.
ARMO BioSciences is a late-stage immuno-oncology biotechnology company that developed a pipeline of novel product candidates designed to activate the immune system of cancer patients to recognize and eradicate tumors.[1][2][3][4] Its key products included AM0010 (a long-acting form of interleukin-10, or IL-10, functioning as an immune growth factor), AM0001 (anti-PD-1 monoclonal antibody), AM0003 (anti-LAG-3 checkpoint inhibitor), AM0015 (recombinant human IL-15), and AM0012 (recombinant human IL-12).[1] The company targeted cancer patients, addressing unmet needs in immunotherapy by stimulating natural immune responses against tumors, with products in clinical development stages at the time of its activity.[1][2]
ARMO served the oncology sector, focusing on immuno-oncology to solve problems like tumor evasion of immune detection. Incorporated in 2010 as Targenics, Inc. (renamed ARMO BioSciences in December 2012) and headquartered in Redwood City, California, it went public via IPO (less than 3 years before available data points) but showed earnings decline of 88.88% year-over-year in its last reported quarter.[1][3] Growth momentum halted in June 2018 when it became a subsidiary of Eli Lilly and Company, effectively ending independent operations.[1]
ARMO BioSciences was incorporated in 2010 in Redwood City, California, initially under the name Targenics, Inc., before rebranding to ARMO BioSciences, Inc. in December 2012 to reflect its focus on immuno-oncology.[1] Specific founders are not detailed in available records, but the company emerged during the early 2010s surge in cancer immunotherapy research, building a pipeline around proprietary biologics that harness cytokines and checkpoint inhibitors—molecules naturally occurring or engineered to boost anti-tumor immunity.[1][2]
Early traction included advancing multiple candidates into clinical trials, culminating in a public IPO classified as recent (within 3 years of profiling).[3][4] A pivotal moment came on June 21, 2018, when Eli Lilly and Company acquired ARMO, integrating its pipeline—led by pegilodecakin (AM0010)—into Lilly's oncology portfolio, marking the end of its standalone journey.[1]
ARMO distinguished itself in the crowded immuno-oncology field through its focus on novel cytokine-based therapies combined with checkpoint inhibitors:
ARMO rode the 2010s immuno-oncology wave, fueled by breakthroughs like PD-1 inhibitors (e.g., Keytruda, Opdivo) that reshaped cancer treatment from cytotoxic drugs to immune activation.[1][2] Timing was ideal post-2010 incorporation, amid exploding interest in cytokines and next-gen checkpoints, with market forces like rising cancer incidence and immunotherapy's 20-30% response rates in previously untreatable tumors favoring its pipeline.[1][4]
By developing IL-10 and IL-15/12 therapies, ARMO influenced the ecosystem through trial data advancing combination regimens, now standard in oncology. Its 2018 Lilly acquisition amplified this, folding assets like pegilodecakin into major pharma R&D, contributing to broader trends in personalized immuno-oncology amid a global oncology market exceeding $200B annually.[1]
Post-2018 acquisition, ARMO BioSciences no longer operates independently—its pipeline lives on within Eli Lilly, with assets like AM0010 potentially advancing in Lilly's trials or partnerships.[1] Trends shaping its legacy include AI-driven trial design and bispecific antibodies, which could revive or evolve cytokine combos for resistant cancers.
Influence may grow indirectly via Lilly's scale, powering next-gen therapies amid immuno-oncology's maturation; watch for phase 3 readouts or licensing deals. This underscores biotech's high-stakes reality: innovative pipelines like ARMO's thrive through strategic exits, fueling the immune activation revolution that began with its 2010 founding.[1][2]
ARMO BioSciences has raised $167.0M in total across 4 funding rounds.
ARMO BioSciences's investors include Cultivation Capital, Khosla Ventures, NanoDimension, Westlake Village BioPartners, Y Combinator, Mark Pincus.
ARMO BioSciences has raised $167.0M across 4 funding rounds. Most recently, it raised $67.0M Series C in August 2017.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2017 | $67.0M Series C | Cultivation Capital, Khosla Ventures, NanoDimension, Westlake Village BioPartners, Y Combinator, Mark Pincus | |
| Feb 1, 2016 | $50.0M Series C | Cultivation Capital, Khosla Ventures, NanoDimension, Westlake Village BioPartners, Y Combinator, Mark Pincus | |
| May 1, 2014 | $30.0M Series B | Cultivation Capital, Khosla Ventures, NanoDimension, Westlake Village BioPartners, Y Combinator, Mark Pincus | |
| Nov 1, 2013 | $20.0M Series A | Khosla Ventures, Westlake Village BioPartners, Y Combinator, Mark Pincus |