IcanoMAB, a privately-funded biotech company based in Polling, Germany, focused on the preclinical and clinical development of novel antibodies for the treatment of cancer, immune system related diseases and COVID-19, announced its successful founding and financing.
IcanoMAB conducts research on effective antibody therapies against Covid-19 and its potentially fatal outcome, which is caused by acute respiratory distress syndrome (ARDS) and cytokine release syndrome (CRS). With the IL-1R7 antagonist, the newly founded company aims to prevent the interferon gamma-initiated cytokine storm in COVID-19 patients in the late stage of the disease. In addition, the start-up from Polling in Upper Bavaria is working on the treatment of inflammatory diseases such as macrophage activation syndrome, SJIA/ Still's disease or IBD and gout as well as cancer.
The Company has secured three clinical candidates in the IND stage and funding from MAB Discovery GmbH, which originally generated the licensed antibodies from a novel antibody discovery platform. After 10 years, MAB Discovery sold its antibody production platform and laboratory to BioNTech in early 2019. At the end of 2019, a preclinical project in the field of immunoncology was licensed to a pharmaceutical company.
Besides MAB Discovery CEO Dr. Stephan Fischer, Dr. Ulrich Pessara and Daniel Parera, M.D., are among the co-founders of IcanoMAB. IcanoMAB intends to use the proceeds of the financing to advance the clinical candidates in order to enable IND-activating activities and corresponding partner activities.
Press release IcanoMAB: IcanoMAB GmbHfounded with privatefunding to develop precision canonical monoclonal antibodies in Oncology, Immune-modulation, Acute Inflammation and most urgently for Covid-19