NeoPhore Ltd, a spin out from Cambridge, UK – based PhoreMost Ltd., focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system, raised £3m in funding.
Sixth Element Capital LLP (6EC), a UK based fund manager established to manage investments for the £70 million CRT Pioneer Fund, made the investment. In conjunction with the funding, Robert James, Co-Founder and Managing Partner of Sixth Element Capital, joined NeoPhore’s board as Chairman.
The company intends to use the proceeds to advance discoveries already made by PhoreMost and its collaborators.
NeoPhore aims to exploit novel biological mechanisms to directly stimulate cancer neoantigen creation to both boost cancer immunity in patients with unresponsive, immunologically “cold” tumors, as well as improve responses in patients already eligible for cancer immunotherapy treatments.
The company’s approach targets genetic mechanisms that both clinical and lab studies suggest will promote neoantigen creation and diversity across numerous cancers. Using these insights, NeoPhore aims to generate immuno-oncology therapeutics to improve clinical outcomes for cancer patients.