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ARMO BioSciences

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uuid0005jvu

Namestring
ARMO BioSciences
Legal namestring
ARMO BioSciences
Websiteurl
armobio.com
Company typeenum
Private
Founded yearint
2018
Descriptiontext

ARMO BioSciences was a clinical-stage biotechnology company that developed immune modulatory biologic therapeutics, with a domain specialization in immuno-oncology. Founded in Redwood City, California in 2013 by a team of industry veterans that included Dr. John Mumm, a 30-year immunology innovator and serial biotech founder, the company built a proprietary immuno-oncology pipeline targeting immunology-driven therapeutic indications, including oncology and inflammatory disease. Under CEO Peter Van Vlasselaer, ARMO advanced a foundational immunology platform that attracted top-tier venture backing across multiple rounds — including Kleiner Perkins, Sequoia Capital, OrbiMed, Google Ventures, Celgene, and Qiming Venture Partners — totaling approximately $167 million in disclosed funding.

As a pre-commercial biotech, ARMO did not have paying end customers or approved products. Its revenue model centered on advancing clinical assets and ultimately realizing value through strategic exit. The company's primary 'go-to-market' was its clinical development pathway, supported by venture capital and a partnership-oriented approach typical of late-stage clinical biotechs. In 2018, Eli Lilly acquired ARMO BioSciences for $1.6 billion, absorbing ARMO's late-stage clinical immuno-oncology pipeline into Lilly's broader oncology and immunology portfolio. Following the acquisition, ARMO ceased to exist as an independent operating entity; its pipeline assets, scientific team, and platform were integrated into Eli Lilly's global pharmaceutical infrastructure.

Short descriptiontext

ARMO BioSciences was a clinical-stage biotechnology company developing immune modulatory biologic therapeutics in immuno-oncology, founded in 2013 in Redwood City, California. It was acquired by Eli Lilly for $1.6 billion in 2018.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersRedwood City, United States
HQ citystring
Redwood City
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
immuno-oncology therapeutics, biologic therapeutics, immunology platform, cancer immunotherapy, clinical-stage biotechnology
Product category
Immuno-oncology Biologic Therapeutics
No data
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Pre-acquisition R&D and licensing operations
TypeLicensing Royalties
Description

ARMO BioSciences was an independent, venture-backed clinical-stage biotech that was acquired by Eli Lilly in 2018 for $1.6 billion. Following the acquisition, ARMO's pipeline and revenues were absorbed into Eli Lilly's broader oncology/immunology portfolio; ARMO no longer operates as an independent revenue-generating entity.

prnewswire.com
Marketing channels1 record

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components3 values
Technology or R&D, Personnel, Operations
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Core offering1 text field

ARMO BioSciences was a clinical-stage biotechnology company that developed immune modulatory biologic therapeutics, focused on immuno-oncology and inflammatory disease indications. The company built a proprietary immunology platform whose pipeline assets were valuable enough to attract a $1.6 billion acquisition by Eli Lilly in 2018.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

ARMO BioSciences was an immunology-focused biotechnology company that was acquired by Eli Lilly and Company in 2018 for $1.6 billion. Dr. John Mumm was a founding member of the company. Detailed product or service offering information is not available in the source data.

Product and service1 record
1Immuno-oncology biologic therapeutic pipeline
CategoryImmuno-oncology Biologic Therapeutics
Scale indicator2 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
1Eli Lilly and Company
Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2018-01-01
Description

Eli Lilly acquired ARMO BioSciences for $1.6 billion in 2018, taking the immunology/immuno-oncology pipeline into Lilly's global pharmaceutical portfolio. The acquisition is the single most important commercial event in ARMO's history and represents a strategic / M&A partnership at the highest tier. This exit validated the company's immunology platform and founding scientific team.

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight3 records

Each record includes

Type, Description

Peers10 records
1Compugen
TypeDirect peer
Description

Clinical-stage immuno-oncology company leveraging a computational platform to discover novel immune targets. Comparable as a venture-backed IO biotech focused on novel immunology targets and combinations.

2Deka Biosciences
TypeEmerging player
Description

Clinical-stage immunology company founded by Dr. John Mumm, ARMO's founding member. Comparable via shared scientific founder, immunology focus, and clinical-stage profile.

3Werewolf Therapeutics
TypeEmerging player
Description

Clinical-stage biotech developing INDUKINE cytokine-based immuno-oncology therapeutics. Comparable modality (engineered cytokines) and clinical stage to ARMO's immunology pipeline.

4Celgene
TypeBroad incumbent
Description

Large-cap biopharma (later acquired by Bristol-Myers Squibb) and ARMO investor. Comparable as a strategic oncology/immunology incumbent and historical capital partner in ARMO's funding rounds.

5Jounce Therapeutics
TypeDirect peer
Description

Clinical-stage immuno-oncology biotech developing cancer immunotherapies (e.g., JTX-8064, vopratelimab). Closely comparable to ARMO in stage, modality focus on tumor immunology, and venture-backed Boston/California footprint.

6Arcus Biosciences
TypeDirect peer
Description

Clinical-stage immuno-oncology company developing small-molecule and antibody therapies targeting immune checkpoints. Comparable stage, indication focus, and oncology-immunology profile.

7Cue Biopharma
TypeDirect peer
Description

Clinical-stage biotech developing Immuno-STAT biologics for cancer and autoimmune disease. Directly comparable in immunology-platform approach and clinical-stage development profile.

8Bristol-Myers Squibb
TypeBroad incumbent
Description

Global large-cap pharma with a leading immuno-oncology franchise (Opdivo, Yervoy). Comparable as the dominant IO incumbent that defines the competitive bar for clinical-stage IO biotechs like ARMO.

9Eli Lilly and Company
TypeOthers
Description

Strategic acquirer of ARMO in 2018 for $1.6B. Comparable as the corporate parent whose oncology and immunology portfolio absorbed ARMO's pipeline.

10Merck & Co.
TypeBroad incumbent
Description

Large-cap pharma and IO market leader (Keytruda). Comparable as the established immuno-oncology benchmark against which ARMO's pipeline would be evaluated.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature1 record

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles2 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds6 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors17 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

ARMO BioSciences

Immuno-oncology Biologic Therapeuticsarmobio.com

ARMO BioSciences was a clinical-stage biotechnology company developing immune modulatory biologic therapeutics in immuno-oncology, founded in 2013 in Redwood City, California. It was acquired by Eli Lilly for $1.6 billion in 2018.

What ARMO BioSciences does

ARMO BioSciences was a clinical-stage biotechnology company that developed immune modulatory biologic therapeutics, with a domain specialization in immuno-oncology. Founded in Redwood City, California in 2013 by a team of industry veterans that included Dr. John Mumm, a 30-year immunology innovator and serial biotech founder, the company built a proprietary immuno-oncology pipeline targeting immunology-driven therapeutic indications, including oncology and inflammatory disease. Under CEO Peter Van Vlasselaer, ARMO advanced a foundational immunology platform that attracted top-tier venture backing across multiple rounds — including Kleiner Perkins, Sequoia Capital, OrbiMed, Google Ventures, Celgene, and Qiming Venture Partners — totaling approximately $167 million in disclosed funding.

As a pre-commercial biotech, ARMO did not have paying end customers or approved products. Its revenue model centered on advancing clinical assets and ultimately realizing value through strategic exit. The company's primary 'go-to-market' was its clinical development pathway, supported by venture capital and a partnership-oriented approach typical of late-stage clinical biotechs. In 2018, Eli Lilly acquired ARMO BioSciences for $1.6 billion, absorbing ARMO's late-stage clinical immuno-oncology pipeline into Lilly's broader oncology and immunology portfolio. Following the acquisition, ARMO ceased to exist as an independent operating entity; its pipeline assets, scientific team, and platform were integrated into Eli Lilly's global pharmaceutical infrastructure.

ARMO BioSciences firmographics

Firmographics
Name
ARMO BioSciences
Legal name
ARMO BioSciences
Website
https://armobio.com
Company type
Private
Founded year
2018
Operating status
Acquired
Headcount range
11–50 employees
Short description
ARMO BioSciences was a clinical-stage biotechnology company developing immune modulatory biologic therapeutics in immuno-oncology, founded in 2013 in Redwood City, California. It was acquired by Eli Lilly for $1.6 billion in 2018.
Ownership category
akta.pro rank

Where ARMO BioSciences is headquartered

Location

Headquarters

HQ city
Redwood City
HQ country
United States
HQ region
North America

Markets served

ARMO BioSciences business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Technology or R&D, Personnel, Operations

Revenue model

  1. Pre-acquisition R&D and licensing operations: ARMO BioSciences was an independent, venture-backed clinical-stage biotech that was acquired by Eli Lilly in 2018 for $1.6 billion. Following the acquisition, ARMO's pipeline and revenues were absorbed into Eli Lilly's broader oncology/immunology portfolio; ARMO no longer operates as an independent revenue-generating entity.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

ARMO BioSciences product offering

Product offering

Core offering

ARMO BioSciences was a clinical-stage biotechnology company that developed immune modulatory biologic therapeutics, focused on immuno-oncology and inflammatory disease indications. The company built a proprietary immunology platform whose pipeline assets were valuable enough to attract a $1.6 billion acquisition by Eli Lilly in 2018.

Product overview

ARMO BioSciences was an immunology-focused biotechnology company that was acquired by Eli Lilly and Company in 2018 for $1.6 billion. Dr. John Mumm was a founding member of the company. Detailed product or service offering information is not available in the source data.

Differentiator

Problem solved

Functional benefit

Products and services

  • Immuno-oncology biologic therapeutic pipeline

Companies that use ARMO BioSciences

Customer profile

Segments2 records

Ideal customer profiles2 records

ARMO BioSciences technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

ARMO BioSciences partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • Eli Lilly and CompanyflagshipStrategic or Co-development Partner · 1 January 2018Eli Lilly acquired ARMO BioSciences for $1.6 billion in 2018, taking the immunology/immuno-oncology pipeline into Lilly's global pharmaceutical portfolio. The acquisition is the single most important commercial event in ARMO's history and represents a strategic / M&A partnership at the highest tier. This exit validated the company's immunology platform and founding scientific team.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

ARMO BioSciences competitors and assessment

Company assessment

Direct peers

  • Compugen: Clinical-stage immuno-oncology company leveraging a computational platform to discover novel immune targets. Comparable as a venture-backed IO biotech focused on novel immunology targets and combinations.
  • Jounce Therapeutics: Clinical-stage immuno-oncology biotech developing cancer immunotherapies (e.g., JTX-8064, vopratelimab). Closely comparable to ARMO in stage, modality focus on tumor immunology, and venture-backed Boston/California footprint.
  • Arcus Biosciences: Clinical-stage immuno-oncology company developing small-molecule and antibody therapies targeting immune checkpoints. Comparable stage, indication focus, and oncology-immunology profile.
  • Cue Biopharma: Clinical-stage biotech developing Immuno-STAT biologics for cancer and autoimmune disease. Directly comparable in immunology-platform approach and clinical-stage development profile.

Emerging players

  • Deka Biosciences: Clinical-stage immunology company founded by Dr. John Mumm, ARMO's founding member. Comparable via shared scientific founder, immunology focus, and clinical-stage profile.
  • Werewolf Therapeutics: Clinical-stage biotech developing INDUKINE cytokine-based immuno-oncology therapeutics. Comparable modality (engineered cytokines) and clinical stage to ARMO's immunology pipeline.

Broad incumbents

  • Celgene: Large-cap biopharma (later acquired by Bristol-Myers Squibb) and ARMO investor. Comparable as a strategic oncology/immunology incumbent and historical capital partner in ARMO's funding rounds.
  • Bristol-Myers Squibb: Global large-cap pharma with a leading immuno-oncology franchise (Opdivo, Yervoy). Comparable as the dominant IO incumbent that defines the competitive bar for clinical-stage IO biotechs like ARMO.
  • Merck & Co. Large-cap pharma and IO market leader (Keytruda). Comparable as the established immuno-oncology benchmark against which ARMO's pipeline would be evaluated.

Others

  • Eli Lilly and Company: Strategic acquirer of ARMO in 2018 for $1.6B. Comparable as the corporate parent whose oncology and immunology portfolio absorbed ARMO's pipeline.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

ARMO BioSciences financial estimates

Financial estimate

Revenue estimate

Valuation estimate

ARMO BioSciences leadership team

Management profile

Number of profiles

Profiles2 records

ARMO BioSciences funding detail

Funding detail

Funding overview

Funding rounds6 records

Investors17 records

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

ARMO BioSciences M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about ARMO BioSciences

What does ARMO BioSciences do?

ARMO BioSciences was a clinical-stage biotechnology company that developed immune modulatory biologic therapeutics, focused on immuno-oncology and inflammatory disease indications. The company built a proprietary immunology platform whose pipeline assets were valuable enough to attract a $1.6 billion acquisition by Eli Lilly in 2018.

Is ARMO BioSciences a public or private company?

ARMO BioSciences is a private company. It is classified as corporate owned and is currently acquired.

When was ARMO BioSciences founded?

ARMO BioSciences was founded in 2018. It employs 11 to 50 people.

Where is ARMO BioSciences based?

ARMO BioSciences is headquartered in Redwood City, United States, in the North America region.

How does ARMO BioSciences make money?

One revenue line is on record: pre-acquisition R&D and licensing operations.

Who are ARMO BioSciences's main competitors?

Direct peers on record are Compugen, Jounce Therapeutics, Arcus Biosciences and Cue Biopharma. Emerging players are Deka Biosciences and Werewolf Therapeutics. Broad incumbents are Celgene, Bristol-Myers Squibb and Merck & Co.. Eli Lilly and Company is listed as an others.

Does ARMO BioSciences have an API?

No public API is recorded for ARMO BioSciences.

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Live signals
PR NewswireLilly to Present New Data From Oncology Portfolio at ESMO 2018 Congress, Showcasing Patient-Centric Advances in Cancer CareEli Lilly and Company announced it will present new clinical data from its oncology portfolio at the ESMO 2018 Congress in Munich, Germany, October 19-23, featuring findings on abemaciclib, pemetrexed, ramucirumab, and investigational compound pegilodecakin across multiple cancer types. The data includes Phase 3 results from trials such as MONARCH 2, KEYNOTE-189, REACH-2, and RANGE, with pegilodecakin representing a recent addition to the pipeline through Lilly's acquisition of ARMO BioSciences earlier in 2018. The presentations aim to demonstrate Lilly's patient-centric research approach toward advancing cancer care, according to Maura Dickler, vice president of late phase development at Lilly Oncology.GlobeNewswireGunderson Dettmer Wins “Finance & Transactional Impact Deal of the Year” for ARMO BioSciences/Eli Lilly M&A at 2018 LMG Life Sciences AwardsGunderson Dettmer won the 2018 Euromoney LMG Life Sciences Award for its representation of ARMO BioSciences in its $1.6 billion sale to Eli Lilly. The firm's team, led by Marcia Hatch, also congratulated Eli Lilly for a shortlist in the Financial & Corporate In-House Team of the Year award.PR NewswireLilly Delivers Strong Second-Quarter 2018 Results, Revises EPS GuidanceEli Lilly reported Q2 2018 revenue of $6.355 billion, a 9% increase driven by volume growth from new pharmaceutical products including Trulicity, Taltz, and Basaglar. Non-GAAP EPS rose 35% to $1.50, though GAAP EPS showed a loss of $0.25 due to $1.624 billion in acquired in-process R&D charges from the acquisitions of ARMO BioSciences and AurKa Pharma. The company revised full-year 2018 non-GAAP EPS guidance upward to $5.40–$5.50 and announced plans for an IPO of a minority stake in its Elanco Animal Health business.PR NewswireSHAREHOLDER ALERT: Monteverde & Associates PC Announces An Investigation Of ARMO BioSciences, Inc. - ARMOMonteverde & Associates PC, a New York-based securities law firm, announced an investigation into the proposed acquisition of ARMO BioSciences, Inc. by Eli Lilly and Company for $50.00 per share in cash. The investigation will examine whether ARMO and its Board of Directors violated securities laws or breached fiduciary duties to shareholders by failing to conduct a fair sale process and potentially undervaluing the company. The law firm is encouraging ARMO shareholders who wish to protect their investments to contact them for additional information.PR NewswireWeissLaw LLP: ARMO BioSciences Inc. Acquisition May Not Be In The Best Interests of ARMO shareholdersWeissLaw LLP announced it is investigating potential breaches of fiduciary duty by ARMO BioSciences Inc.'s Board of Directors in connection with Eli Lilly & Co.'s proposed acquisition of the company. The investigation centers on whether the board acted to maximize shareholder value given that the $50.00 per share offer is $25.00 below at least one analyst's target price of $75.00 per share. The law firm is examining whether ARMO shareholders are receiving fair value in the transaction, which would expand Eli Lilly's drug portfolio in the cancer immunotherapy sector.PR NewswireALERT: Rowley Law PLLC is Investigating Proposed Acquisition of ARMO BioSciences, Inc.Rowley Law PLLC announced it is investigating potential breach of fiduciary duty claims against ARMO BioSciences, Inc. and its board of directors concerning Eli Lilly and Company's proposed acquisition of the company. Under the deal, ARMO stockholders would receive $50.00 per share, with the transaction valued at approximately $1.6 billion and expected to close by the end of Q2 2018. The law firm is inviting interested ARMO stockholders to contact them for additional information regarding the investigation.PR NewswireARMO BioSciences Alert: Johnson Fistel Investigates Proposed Sale of ARMO BioSciences, Inc.; Is $50 a Fair Price?Shareholder rights law firm Johnson Fistel has launched an investigation into whether the board of ARMO BioSciences breached fiduciary duties in connection with a definitive merger agreement to be acquired by Eli Lilly for $50.00 per share in cash. The investigation focuses on whether the board adequately pursued alternatives and obtained the best possible price for shareholders, particularly given that one Wall Street analyst has a $75.00 price target on the stock and the 52-week high was $57.19. Johnson Fistel is offering to represent shareholders who believe the proposed sale price is insufficient.TechCrunchThe US IPO market just had the best quarter in three yearsThe U.S. IPO market achieved its best quarter in three years with 43 companies raising $15.6 billion, led by significant debuts from tech and biotech firms like Dropbox and Menlo Therapeutics. While some offerings such as ADT and Hudson underperformed their initial pricing, others including ZScaler and ARMO BioSciences saw strong demand and share price increases. This momentum is expected to drive further major listings, including Spotify's upcoming debut.PR NewswirePre-Market Technical Scan on Biotech Equities -- Amicus Therapeutics, Ampio Pharmaceuticals, AmpliPhi Biosciences, and ARMO BioSciencesWallStEquities.com released a pre-market technical scan analyzing the stock performance of four biotech companies: Amicus Therapeutics, Ampio Pharmaceuticals, AmpliPhi Biosciences, and ARMO BioSciences. The report details recent trading volumes, price movements, and financial metrics for these entities, noting that market volatility is creating buying opportunities in the sector due to investor focus on long-term drug potential rather than interest rate impacts.PR NewswireARMO BioSciences Announces Pricing of Initial Public OfferingARMO BioSciences priced its initial public offering of 7,529,412 shares at $17.00 per share, raising approximately $128.0 million in gross proceeds, with shares expected to begin trading on the Nasdaq Global Select Market on January 26, 2018. The company is a late-stage immuno-oncology firm whose lead product candidate AM0010 (pegilodecakin) is being evaluated in a Phase 3 pivotal clinical trial for pancreatic cancer. The offering is expected to close on January 30, 2018, subject to customary closing conditions.