$71 Million

Corvus Pharmaceuticals

Initial Public Offering

Bookrunner, March 2016

Corvus Pharmaceuticals is a clinical stage biopharmaceutical company focused on the development and commercialization of novel immuno-oncology therapies that are designed to harness the immune system to attack cancer cells. The company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response. The lead product candidate, CPI-444, is an oral, small molecule antagonist of the A2A receptor for adenosine, an immune checkpoint. In January 2016, Corvus began enrolling patients in a large expansion cohort trial for CPI-444. This Phase 1/1b clinical trial is designed to examine safety, tolerability, biomarkers and preliminary efficacy of CPI-444 in several solid tumor types, both as a single agent and in combination with Genentech, Inc.’s investigational cancer immunotherapy, atezolizumab, a fully humanized monoclonal antibody targeting PDL-1. The company has also chosen a lead development candidate for an anti-CD73 monoclonal antibody that inhibits the production of adenosine, and plans to select development candidates for the two additional programs in 2016.