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§ Private Profile · San Diego, CA, USA
VelosBio is a technology company.
VelosBio develops first-in-class antibody-drug conjugates (ADCs) targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1) for cancer treatment. Its lead candidate, VLS-101, is a ROR1-directed ADC in clinical development for patients with hematologic and solid tumor malignancies. The company focuses on this target to create effective therapeutic options, building a pipeline of ROR1-directed treatments.
Founded in 2017 by CEO Dave Johnson, VelosBio draws on foundational research by Thomas Kipps at the University of California San Diego. The company emerged from the insight that ROR1 is a promising cell surface antigen broadly expressed on numerous cancer cells. This understanding drove VelosBio's focus on developing precise, antibody-based oncology therapies.
VelosBio's therapies serve patients with various hematologic and solid tumor cancers. The company's vision is to transform patient outcomes by advancing targeted therapeutics addressing unmet medical needs in oncology. Through its specialized ROR1 targeting, VelosBio aims to deliver innovative and precise cancer treatments, improving patient lives.
VelosBio has raised $213.0M across 3 funding rounds.
VelosBio has raised $213.0M in total across 3 funding rounds.
VelosBio has raised $213.0M in total across 3 funding rounds.
VelosBio's investors include Karan Takhar, Surveyor Capital, Arix Bioscience, MPM Capital, Adage Capital Management, Cormorant Asset Management, Decheng Capital, Farallon Capital Management, Foresite Capital, Janus Henderson Investors, Logos Capital, OrbiMed.
VelosBio is a clinical-stage biopharmaceutical company developing first-in-class cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1), a protein expressed in various hematologic malignancies and solid tumors but absent in normal adult tissues.[1][2] Its lead product, VLS-101, is an antibody-drug conjugate (ADC) evaluated in Phase 1 trials for hematologic malignancies and Phase 2 trials for solid tumors like triple-negative breast cancer (TNBC), hormone receptor-positive/HER2-positive breast cancer, and non-small cell lung cancer (NSCLC).[1][2] VelosBio serves oncology patients with aggressive, treatment-resistant cancers, addressing unmet needs through its ROR1-targeting platform that includes ADCs and bispecific antibodies; the company raised $137 million in Series B financing in 2021 and was acquired by Merck for $2.75 billion to accelerate its pipeline.[1][3][4]
Founded in 2017 and headquartered in San Diego, VelosBio emerged to pioneer ROR1-targeted therapies, leveraging the protein's role in embryogenesis and its overexpression in cancers.[1][2][4] Dave Johnson, with expertise in biopharma, served as founder and CEO, driving the company's focus on novel antibody-based drugs.[1] Early momentum included initiating Phase 1 and Phase 2 trials for VLS-101 by 2020, followed by substantial Series B funding to advance its pipeline, culminating in Merck's acquisition to integrate these assets into a broader oncology strategy.[1][2][3]
VelosBio rides the wave of ADC innovation in oncology, where targeted therapies address resistance in solid tumors and hematologic cancers amid rising demand for precision medicine.[2] Timing aligns with ROR1's validation as a novel target for aggressive diseases like NSCLC, breast, and ovarian cancers, where current treatments fall short, fueled by market forces like biotech M&A and pipeline gaps in hematologic malignancies.[1][2] Post-acquisition, it bolsters Merck's oncology portfolio, influencing ecosystem-wide shifts toward ROR1 antagonists and bispecifics, potentially accelerating approvals and combo therapies.[1][2][5]
Merck will drive comprehensive development of VLS-101 across tumor types and lines, complemented by VelosBio's preclinical pipeline for broader ROR1 applications.[1][2] Trends like ADC optimization and bispecific expansion will shape progress, with influence growing through Merck's global trials and manufacturing scale. As ROR1 therapies mature, VelosBio's tech could redefine treatments for unmet cancers, amplifying its legacy from San Diego biotech to oncology cornerstone.[1][2]
VelosBio has raised $213.0M across 3 funding rounds. Most recently, it raised $15.0M Alessa Therapeutics - Seed in December 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 13, 2024 | $15M Seed | — | — | Announced |
| Jul 1, 2020 | $140M Series B | Karan Takhar, Surveyor Capital | Arix Bioscience, MPM Capital, Adage Capital Management, Cormorant Asset Management, Decheng Capital, Farallon Capital Management, Foresite Capital, Janus Henderson Investors, Logos Capital, OrbiMed, Pappas Capital, Sofinnova Investments, Takeda Ventures, T. Rowe Price Associates, Venrock, Viking Global Investors, Wellington Management | Announced |
| Sep 1, 2018 | $58M Series A | Arix Bioscience, Sofinnova Investments | TOM Hulme, MPM Capital, Soffinova Partners, Chiesi Ventures, Decheng Capital, Pappas Ventures, Takeda Ventures | Announced |