Backed by MPM Capital and Sofinnova, immuno-oncology specialist iOmx Therapeutics has raised €40m in its first round of financing. The German company had just been founded in spring 2016.
iOmx Therapeutics develops first-in-class cancer therapeutics addressing novel immune checkpoint modulators on tumour cells. Now, the Martinsried-based company has managed to raise €40m to continue building its pipeline of drug candidates against half a dozen of its proprietary immune-oncology targets. MPM Capital and Sofinnova Partners are contributing the lion’s share of the investment. Wellington Partners and Merck Ventures are chipping in a „smaller portion“, iOmx chairman Sebastian Meier-Ewert told European Biotechnology’s German-languageto german magazin "transkript".
“IOmx is one of the first companies to find targets based on the signature of actual immunosuppressive molecules on the surface of the primary tumour,” Meyer-Ewert told |transkript. This allows a significant increase in the number of patients who respond to cancer immunotherapies. “The company possesses all the key features we are looking for: an exceptional management, cutting-edge science and a transformative technology platform that has the potential to deliver more effective cancer therapeutics,” said Henrijette Richter, Partner at Sofinnova Partners and Chairman of the Board.
iOmx was founded by Nisit Khandelwal, Philipp Beckhove, Patrick Baeuerle, Sebastian Meier-Ewert and Elmar Maier in March 2016.
Source: www.biotechnologie.de [tg]