Stimunity, a Paris, France-based immuno-oncology company, is to receive up to €2m in seed funding subject to the successful completion of milestones.
Portage Biotech (Canadian Securities Exchange: PBT.U, OTC Markets : PTGEF), made the investment.
The company will use the funds to proceeds for the preclinical development of its lead product, a potent biologic enhancer of the STING pathway that activates the immune system against tumor cells.
Led by Nicolas Manel PhD, co-founder and the co-inventor, and Sylvain Carlioz, co-founder and CEO, Stimunity is an early-stage research and development company focused on the development of STING agonists in cancer. The technology, licensed from Institut Curie, Inserm, and the University of Oxford, is based on a unique biologic approach which encapsulates endogenous STING-activating molecules in a Virus-Like Particle (VLP). The company’s drug has the potential to activate the innate immune system and enhancing T-cell response against tumor cells with low immunogenicity.