News

Iteos raises €9m in Series A
Enlarge image

BusinessBelgium

Iteos raises €9m in Series A

04.05.2012 - Newly founded Iteos Therapeutics SA closed its Series A financing round, worth €9m, for the development of immunmodulators for cancer therapy.

Louvain-La-Neuve – Belgian Iteos Therapeutics SA is a joint spin-off of the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute at the Université Catholique de Louvain. The company raised €3m from LICR, Hunza Ventures SCA, Life Science Research Partners, Vives Louvain Technology Fund and several business angels. Additionally, it received a non-dilutive €6m grant from Belgian Walloon Government in December 2011.

The field of cancer immunotherapy has come to the fore in the last two years with the approval of drugs and vaccines that harness the power of the immune system to treat cancer patients more safely, efficiently and effectively. However, therapeutic uses of these treatments can be limited, as the tumours often develop mechanisms that enable them to escape the immune system.

Iteos strives to develop small-molecule immunomodulators that can increase the efficacy of cancer immunotherapy, as well as leverage the spontaneous anti-tumour immune response. "Effective immunotherapy treatments enable the body's immune system to re-engage in destroying tumour cells, thereby potentially creating better patient outcomes with fewer side effects when compared to conventional cancer treatments", said Iteos’ co-founder Benoît Van den Eynde. He announced that the new company will try to reach a proof of concept in humans by completing a Phase I/IIa study for the first compound programme and to submit an Investigational New Drug application for a second candidate within four years.

Currently iTeos, which is a semi-virtual company, has initially received exclusive rights to its three targets from the LICR and has an option to receive rights to future targets discovered by LICR.

http://www.european-biotechnology-news.com/news/news/2012-02/iteos-raises-eur9m-in-series-a.html

Stock MarketsFranceEU

27.03.2015 Europe is once more proving that it can be a good bet for biotech companies going public. A newly established EU-wide lobbying initiative could help the IPO boom on its way.

FinancingPoland

24.03.2015 Poland has announced the closing of a new venture capital fund at US$42m (€32m). The fund, which is the first of its kind in Poland, is dedicated to the Life Sciences with a strong connection to Central and Eastern Europe.

BioeconomyFranceSwedenGermanyNetherlandsFinland

23.03.2015 A BASF-led consortium aims to decrease bio-based production costs using industrial biotechnology. The Horizon2020 funded consortium is the sixth project of the SPIRE Public Private Partnership and has a budget of €14m.

Stock MarketsFranceSwedenUKNorwayIreland

20.03.2015 There are no signs of inertia creeping into the European biotech industry this spring. A total of eight IPOs are set to go public by the end of the year’s first quarter.

FinancingUKEU

17.03.2015 Pharma giants GlaxoSmithKline (GSK) and Johnson & Johnson (J&J) will be key collaborators in a new global fund for dementia research to address the rising threat posed by dementia and Alzheimer’s disease.

FinancingFranceDenmarkSwedenGermany

19.03.2015 French venture capital firm Seventure Partners has raised a further €25m for its microbiome-focused Health for Life Capital Fund. It now stands at €100m.

EventsFranceEUSwitzerlandUKGermany

12.03.2015 With around 1,400 companies and 2,400 participants, the springtime counterpart of BIO-Europe enjoyed a successful premiere in France this year. The overall mood of the European biotech industry was positive, and the French hosts in particular reported new initiatives.

M&ABelgium

11.03.2015 Belgian cell-based therapeutics developer and CMO MaSTherCell SA has been acquired by US biotech Orgenesis Inc. for €23m.

FinancingGermany

10.03.2015 The Gates Foundation has dipped into its purse to bring infectious diseases vaccines to the poorest countries. German vaccine specialist CureVac is set to receive US$52m for their mRNA platform technology.

Stock MarketsIrelandUK

05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • MEDIGENE12.51 EUR18.92%
  • CO.DON2.88 EUR9.09%
  • FORMYCON26.77 EUR8.91%

FLOP

  • 4SC1.16 EUR-7.20%
  • MOLOGEN5.69 EUR-2.07%
  • CYTOS1.43 CHF-1.38%

TOP

  • CYTOS1.43 CHF320.6%
  • MEDIGENE12.51 EUR194.4%
  • FORMYCON26.77 EUR60.3%

FLOP

  • MORPHOSYS60.10 EUR-19.6%
  • BASILEA108.20 CHF-11.5%
  • WILEX3.10 EUR-9.6%

TOP

  • SANTHERA96.50 CHF2312.5%
  • FORMYCON26.77 EUR271.8%
  • WILEX3.10 EUR198.1%

FLOP

  • CYTOS1.43 CHF-52.5%
  • MOLOGEN5.69 EUR-49.4%
  • PAION2.53 EUR-24.0%

No liability assumed, Date: 30.03.2015