Combo collector

Armed with a $50 million series C round, Armo BioSciences Inc. plans to move into pivotal cancer studies of immunotherapy combinations that include its AM0010. The initial plan is to combine the recombinant pegylated IL-10 with marketed PD-1 inhibitors, but in the longer term Armo wants to advance in-house combos.

Last week's round included existing investors Kleiner Perkins Caufield & Byers, OrbiMed, DAG Ventures and NanoDimension, plus new investors HBM Healthcare, GV (formerly Google Ventures), Celgene Corp. (NASDAQ:CELG), Industrial Investors Group and Clough Investment Partners...