The financing will also enable the company to pursue in vivo proof-of-concept models across multiple programs. ONK's pipeline currently has three programs in preclinical development for the treatment of hematological malignancies and solid tumors.

The company is engineering NK cell therapies using strategies to optimize cytotoxic potential, metabolic health, and persistence of NK cells while reducing the potential for cell exhaustion in the tumor microenvironment.

ONK's patents include the following:

• Cytokine-inducible SH2-containing protein knockout (KO) in the field of human NK cells for the treatment of cancer, irrespective of the NK cell source
• The expression of high-affinity, membrane-bound, TNF-related apoptosis-inducing ligand variants
• The deletion of checkpoint receptors in NK cells, including extracellular proteins CD96, TIGIT, Siglec-7 and PD-1

These different strategies are being employed across the ONK preclinical product portfolio, including the following therapies:

• ONKT102, an optimized-affinity CD38 CAR NK cell therapy being developed for the treatment of patients with relapsed refractory multiple myeloma
• ONKT104, a CLL-1 CAR NK program targeting acute myeloid leukemia stem cells
• ONKT103, which is being optimized to treat solid tumors such as ovarian, breast, and non-small cell lung cancer and is based on tumor-associated MUC-1 targeting CAR NK cells

ONK also recently started two programs focused on the potential of CISH KO NK cells, namely:

• ONKT105, which is exploring CISH KO cord blood-derived NK cells
• ONKT106, which is exploring CISH KO iPSC-derived NK cells

The series A financing round was led by current investors Acorn Bioventures and ALSHC, and was joined by Cormorant Asset Management.