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.
04.05.2016 Barcelona-based epigenetics expert Oryzon Genomics has closed a debt funding round of €10.5m, bringing the total money raised since last year to €27m. The funds will serve to advance the company’s two LSD1 inhibitors in cancer and neurodegeneration.
03.05.2016 Ipsen is strengthening its ties to long-time development partner Oncodesign, a Dijon-based cancer treatment biotech. The French pharma is handing over the pre-clinical pharmacology for its oncology research programmes to Oncodesign.
29.04.2016 Swiss bank Group UBS has raised US$471m (€412m) for the UBS Oncology Impact Fund, which was set up to invest in early-stage cancer treatments. The money raised by the fund, nearly half of which comes from investors in Asia, is the largest amount ever raised for such a cancer investment fund.
27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).
21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.
21.04.2016 For up to US$685m (€606m), Dutch ArgenX has outlicensed its human antibody programme ARGX-115 to AbbVie. The pre-clinical immuno-oncology candidate targets a protein believed to contribute to immunosuppressive effects of T-cells.
19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.
15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.
13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.