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With $50M round, Peninsula biotech bets on next-generation cancer drug combos
San Francisco Business Times

Armed with $50 million from the former Google Ventures, Celgene Corp. and others, a young Redwood City biotech company is aiming to pair its drug with other drugs that rev up the immune system to destroy cancer cells.

ARMO BioSciences Inc. said Wednesday that the Series C round from Alphabet Inc.’s (NASDAQ: GOOG) GV venture capital arm (the former Google Ventures), Celgene (NASDAQ: CELG), HBM Healthcare Investments, Industrial Investors Group and Clough Investment Partners will help it move into more-definitive studies by early next year.