iOmx Therapeutics AG, a Martinsried, near Munich, Germany-based biopharmaceutical company developing cancer therapeutics based on novel immune checkpoint targets, recently closed a €40m Series A financing round.
The round was co-led by MPM Capital and Sofinnova Partners with participation from Wellington Partners and Merck Ventures.
The company intends to use the funds to advance several proprietary product candidates up to initial clinical proof-of-concept.
Launched in March 2016 by Elmar Maier (CBO), and Sebastian Meier-Ewert (CEO), based on the work of its scientific founders oncology expert Philipp Beckhove and SVP of Research Nisit Khandelwal, iOmx focuses on the development of cancer therapeutics addressing novel immune checkpoints on cancer cells. The company’s proprietary platform systematically screens tumor cells for specific immune checkpoint modulators, which allow targeting the immune resistance mechanisms.