ALX raises $105M for midphase trials of CD47 cancer drug

ALX Oncology has raised $105 million. The series C round will support phase 2 trials of CD47 myeloid checkpoint inhibitor ALX148 in combination with other anti-cancer therapies. Multiple drug developers have gone after CD47 since evidence of its role in the interactions between cancer cells and the immune system became clear. The evidence suggested tumors evade immune attacks by upregulating CD47, leading researchers to posit that blocking the signal will expose cancer cells to a full-force offensive. However, efforts to realize the therapeutic potential of anti-CD47 antibodies have been undermined by hematological adverse events stemming from the fact the target is found on host cells such as red blood cells.