Oncorus, Inc., is a viral immunotherapies company founded in 2016 which is focused on driving innovation to transform outcomes for cancer patients, and is a company spun out of the University of Pittsburgh. The technology for the Massachusetts-based company was licensed from Pitt from the lab of Joseph Glorioso, PhD, professor of microbiology and molecular genetics in Pitt’s School of Medicine and an affiliated faculty member of the McGowan Institute for Regenerative Medicine. Dr. Glorioso was one of the founders of Oncorus and is chair of the company’s scientific advisory board.
Oncorus announced that it has entered into a loan and security agreement with K2 HealthVentures (K2HV), a healthcare focused specialty finance company. Also, Oncorus announced plans to relocate all its operations to its facility in Andover, Massachusetts, in the fourth quarter of 2022, to allow research, process development, and Good Manufacturing Practice (GMP)-compliant manufacturing to occur all in one facility. As a result of the term loan facility and operations relocation, as well as other initiatives to increase operational efficiency, Oncorus now expects its cash, cash equivalents, and investments to fund its capital expenditures and operating expenses into early 2024.
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