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.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Stock marketNetherlandsUKBelgium

10.07.2014 Not one but two biopharma companies are seeking entry into the stock market: After Abzena raised €25m in an IPO earlier this week, Argen-x has followed suit and sold shares worth €40m.

M&AUKIreland

08.07.2014 Abbvie is determined to bring home British rare disease specialist Shire in a merger worth £30.1bn (€37.9bn). So far, Shire has rejected all offers from the US company.

M&ASwitzerland

04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.

M&AFranceGermany

03.07.2014 Nicox S.A. is stretching beyond the European market: The French eye health specialist is set to acquire Aciex Therapeutics Inc., a US-based pharma company with several ophthalmic therapeutics nearing market maturity.

FinanceBelgium

01.07.2014 Belgian antibody specialist Ablynx has raised €41.7m through a private placement of new shares and plans on boosting their range of nanobodies in development.

BioeconomyBelgiumUK

30.06.2014 Building on a £1.2m financing round, Celtic Renewables partners with a Belgian pilot plant to bring its bio-fuel made from whisky production residue to an industrial scale.

ConventionEUUK

25.06.2014 Sun, celebrities and a scandal - the world’s largest biotech convention is getting off to an explosive start in San Diego, California.

InvestmentGermanyNetherlands

24.06.2014 Bayer Healthcare is getting back into gene therapy with a US$252m deal aimed at the development of a haemophilia A treatment.

InvestmentNetherlands

20.06.2014 Tomtom founder Pieter Geelen invests in Dutch biotech Ocello, the company behind a 3D mapping technology used for predicting drug behaviour in patients.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • SERODUS (N)3.05 NOK7.02%
  • SUMMIT (UK)4.03 GBP3.87%
  • DEINOVE (F)13.32 EUR2.46%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • ALMIRALL (E)11.07 EUR-7.13%

TOP

  • SANTHERA (CH)70.65 CHF114.1%
  • CELLECTIS (F)13.54 EUR112.6%
  • ADDEX (CH)4.54 CHF108.3%

FLOP

  • THROMBOGENICS (B)8.51 EUR-51.5%
  • MERCK KGAA (D)63.67 EUR-50.6%
  • VERONA PHARMA (UK)1.20 GBP-42.9%

TOP

  • SANTHERA (CH)70.65 CHF3111.4%
  • GW PHARMACEUTICALS (UK)443.50 GBP843.6%
  • PAION (D)2.71 EUR310.6%

FLOP

  • CYTOS (CH)0.24 CHF-93.1%
  • EVOCUTIS (UK)0.21 GBP-92.6%
  • THROMBOGENICS (B)8.51 EUR-73.6%

No liability assumed, Date: 12.07.2014