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Compass Therapeutics Completes $132 Million Series A Financing to Advance Next-Generation Antibody-Based Therapeutics into the Clinic

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Initial programs to focus on immuno-oncology, inflammation and
autoimmune disorders

Compass
Therapeutics
, a biotechnology company committed to the ambitious
goal of comprehensively drugging the human immune system, today
announced the closing of the final $49 million of its $132 million
Series A financing. This financing will enable the company to advance
its next-generation antibody-based therapeutics into the clinic. The
financing was led by OrbiMed Advisors and included F-Prime Capital,
Cowen Healthcare Investments, Thiel Capital, Biomatics Capital, Ulysses
Holdings, Borealis Ventures, Alexandria Venture Investments and Biomed
Realty Ventures.

Compass is pioneering a new approach to identifying antibody drug
candidates that engage all targets in the biologically complex human
immune synapse, with an initial focus on T cells, NK cells and
macrophages. The company's antibody discovery and bispecific engineering
platforms enable the rapid identification of therapeutic candidates that
engage with a broad range of epitopes on every target. Specifically,
StitchMabs™, a novel and proprietary high-throughput bispecific
screening platform, enables the rapid identification of synergistic
bispecific activity.

The antibody discovery platform is both robust and efficient. Compass is
capable of drugging two new targets per month, and therapeutic
candidates are generated in less than two months from antigen to
candidate set. To date, the integrated R&D approach has generated
therapeutic candidates for more than 30 targets in cancer, inflammation
and autoimmune disease. Compass has more than 15 therapeutic candidates
advancing through preclinical development and has filed more than 50
patent applications.

CTX-471, the company's leading immuno-oncology candidate, is in late
IND-enabling studies and is expected to enter the clinic in the first
half of 2019. It has been tested across multiple in vitro and in
vivo
models and has consistently shown potent and durable curative
activity as a single agent, in combination with other immune-modulatory
agents and with tumor-targeting therapies. In addition, in stringent
high tumor burden therapeutic models, CTX-471 has led to complete tumor
rejections and the generation of long-term, protective immunological
memory.

Upon final closing of the financing round, Thomas Schuetz, M.D., Ph.D.,
the company's co-founder and chief executive officer, commented: "The
proceeds from this round will be used to rapidly advance our first
therapeutic candidate, CTX-471, into the clinic, and to nominate two
additional clinical candidates by the end of this year. I am grateful
for our strong investor syndicate that has continued to support the
company since its inception."

Carl Gordon, Ph.D., a board member and managing partner at OrbiMed
Advisors, commented: "In the three years since the initial Series A
closing, Compass has built a portfolio of antibody discovery, bispecific
engineering and functional characterization platforms which has
consistently delivered novel and differentiated antibody drug
candidates. Compass is positioned to become a leader in the fields of
immuno-oncology, inflammation and autoimmune disease."

Compass is also focused on drugging targets at the intersection of the
innate and the adaptive immune response. By screening all discovery sets
for both activating and inhibiting signaling, Compass is developing a
set of novel therapeutics to induce tolerance in patients with
autoimmune diseases.

"With every target we pursue, we are pushing the boundaries of its
epitopic diversity. We then create multiple formats of antibody-based
multispecific drugs to empirically test various therapeutic hypotheses.
Our unique StitchMabs™ technology allows us to screen for bispecific
synergies in a high-throughput manner, and the output from our discovery
platforms is compatible with highly modular bispecific engineering
strategies," said Piotr Bobrowicz, Ph.D., the company's chief scientific
officer.

About Compass Therapeutics

Compass Therapeutics currently has over 15 antibody, antibody
combination and bispecific programs advancing through preclinical
development, targeting multiple pathways of significance for the immune
system. The company's offices, labs and vivarium are based in Kendall
Square in Cambridge, Mass. Compass currently has approximately 70
full-time employees.

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