What Rondo Therapeutics does

Rondo Therapeutics is a clinical-stage biotechnology company developing immune-cell engaging bispecific antibodies for the treatment of solid tumors. Its pipeline is anchored by RNDO-564, a first-in-class CD28 x Nectin-4 bispecific antibody that entered Phase 1/1b clinical trials in December 2025 for advanced solid tumors including bladder, head and neck, and NSCLC. The company's therapeutic hypothesis is that CD28 co-stimulation (Signal 2), when combined with T-cell receptor stimulation (Signal 1) and restricted to the tumor microenvironment, can overcome the limited durability and dose-limiting toxicities of existing CD3 T-cell engagers in solid tumors.

The underlying technology is a proprietary CD28 bispecific antibody platform supported by an NGS-based antibody discovery engine, a fixed light-chain format that enables modular pairing of immune effector and tumor-targeting arms, and high-throughput functional and biophysical screens for lead optimization. The pipeline has expanded to four named programs spanning bi-specific and tri-specific formats across ovarian, endometrial, and renal cancer indications, plus an undisclosed Lilly-partnered program at the discovery stage.

Rondo is pre-revenue and operates a partnership-driven business model: the company generates value by advancing clinical candidates and capturing potential milestone payments and royalties from strategic collaborations, with Eli Lilly (announced December 2024) as a core co-development partner for CD28 bispecific antibodies. The company is headquartered in Hayward, California, was founded in 2019, closed a $67 million Series A in March 2022 led by Red Tree Venture Capital and Canaan Partners with Johnson & Johnson Innovation - JJDC, SV Health Investors, and Novo Holdings, and is led by repeat entrepreneurs Shelley Force Aldred (CEO) and Nathan Trinklein (CSO), who previously co-founded and sold Teneobio to Amgen for $1.5 billion in up-front payments.

Name

Rondo Therapeutics

Legal name

Rondo Therapeutics

Website

https://rondotx.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Rondo Therapeutics is a clinical-stage biotechnology company developing immune-cell engaging bispecific antibodies, anchored by lead asset RNDO-564 (CD28 x Nectin-4) now in Phase 1 trials, for patients with relapsed or refractory solid tumors including bladder, ovarian, endometrial, and renal cancers.

Ownership category

akta.pro rank

Product category

Immuno-Oncology Bispecific Antibody Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Bispecific & Multispecific Antibodies (HLAAAAAF)

akta.pro secondary industry

Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

Keywords

• Bispecific antibody therapeutics
• Immuno-oncology drug development
• Solid tumor immunotherapy
• Clinical stage biotechnology
• Antibody discovery platform

Headquarters

HQ city

Hayward

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Clinical Development and Licensing: Rondo Therapeutics is a pre-revenue clinical-stage company. The company generates value through advancing bispecific antibody therapeutics through clinical development, with potential milestone payments and royalty revenues from partnerships. As of 2024, the company has raised $67M Series A financing.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Rondo Therapeutics develops a pipeline of immune-cell engaging bispecific antibody therapeutics designed to safely treat solid tumors by combining targeted tumor binding with CD28 co-stimulation to enhance and sustain T-cell activity. The lead clinical-stage candidate, RNDO-564 (CD28 x Nectin-4), is in Phase 1 trials for bladder cancer and other Nectin-4 positive solid tumors, supported by an NGS-based antibody discovery platform with a fixed light-chain format and proprietary functional screens.

Product overview

Rondo Therapeutics is a clinical-stage biotechnology company developing a multi-product pipeline of immune-cell engaging bispecific antibodies for treating solid tumors. The core technology platform centers on CD28 bispecific antibodies that deliver tumor-localized co-stimulation. The lead product, RNDO-564 (CD28 x Nectin-4), is in Phase 1 clinical trials for bladder cancer. Additional pipeline programs target ovarian (RNDO-Program 2), endometrial (RNDO-Program 3), and renal cancers (RNDO-Program 4). The platform features an NGS-based discovery approach with fixed light-chain format enabling flexible arm pairing, proprietary functional and biophysical assays for lead optimization, and both bi-specific and tri-specific formats to address different tumor microenvironments.

Differentiator

Problem solved

Functional benefit

Products and services

• RNDO-564 First-in-class CD28 x Nectin-4 bispecific antibody lead clinical-stage candidate designed to safely deliver tumor-localized co-stimulation for the treatment of bladder cancer and other Nectin-4 positive solid tumors; optimizes the Nectin-4 binding arm and calibrates the CD28 arm for controlled activation focused within the tumor microenvironment. Currently in Phase 1.
• CD28 Bispecific Antibody Platform Proprietary immune-cell engaging bispecific antibody technology platform leveraging CD28 co-stimulation to enhance and sustain T-cell activity in solid tumors, combining an NGS-based antibody discovery engine, a fixed light-chain format for flexible pairing of immune effector and tumor-targeting arms, and proprietary functional and developability screens for lead optimization. The platform is the basis for both the company's internal pipeline and its December 2024 collaboration with Lilly.

Quantifiable outcome

• CD3 T-cell engagers achieve 60-80% response rates in blood cancers but low response rates in solid tumors
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• LillycoreStrategic or Co-development Partner · 4 December 2024Rondo announced collaboration with Lilly to develop novel CD28 bispecific antibodies for solid tumors. This strategic partnership leverages Rondo's CD28 bispecific antibody platform for advancing innovative immunotherapeutic candidates.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Janux Therapeutics: Clinical-stage biotech developing CD28-based bispecific T-cell engagers (TRoT™ platform) for solid tumors. Closest direct peer to Rondo given shared CD28 co-stimulation mechanism and solid-tumor focus.
• IGM Biosciences: Clinical-stage biotech developing engineered IgM-based T-cell engagers, including CD28-containing constructs, for heme and solid-tumor indications. Shares the T-cell engager approach to solid tumors and employs Rondo's former CMO Thomas Manley.
• Harpoon Therapeutics: Developed T-cell engagers (TriTAC platform) for solid tumors including PSMA and DLL3 targets; acquired by Merck in 2024. Directly comparable T-cell engager approach to Rondo's bispecific antibodies.
• MacroGenics: Clinical-stage biotech with multiple bispecific antibody platforms (DART, TRIDENT) for oncology, including solid-tumor programs. Direct peer given bispecific antibody focus and oncology pipeline.
• Genmab: Bispecific antibody technology company behind the DuoBody platform, partnered with multiple pharma on oncology bispecifics. Directly comparable as a bispecific antibody platform company in oncology.
• Maverick Therapeutics: Developed T-cell engager bispecifics (COBRA platform) for solid tumors. Directly comparable mechanism and solid-tumor focus to Rondo's bispecific antibody approach.
• Adagene: Clinical-stage biotech developing masked bispecific and multispecific antibodies for solid tumors using dynamic precision masking technology. Comparable bispecific antibody developer in oncology.

Broad incumbents

• Amgen: Acquired Teneobio (Rondo founders' prior company) for $1.5B and has approved bispecific antibody Blincyto plus a broader oncology bispecific pipeline. Major incumbent in bispecific antibody space relevant to Rondo's competitive landscape.
• Regeneron: Develops bispecific antibodies (e.g., Linvoseltamab) and has a strong oncology pipeline. Broad incumbent in the bispecific antibody space where Rondo competes for talent and BD attention.

Emerging players

• Cullinan Oncology: Clinical-stage oncology biotech developing a diversified pipeline of targeted therapies and immune engagers. Comparable as an emerging oncology biotech with clinical-stage assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/rondotx

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rondo Therapeutics