iTeos Therapeutics SA, a Gosselies, Belgium – based biotechnology company developing novel cancer immunotherapies, completed a $75m (€64m) Series B financing.
The round was led by MPM Capital, with participation from new investors HBM Partners, 6 Dimensions Capital and Curative Ventures and existing investors Fund +, VIVES II and SRIW, as well as SFPI. In conjunction with the funding, Ansbert Gadicke, M.D., Co-founder and Managing Director of MPM; Christiana Bardon M.D., Managing Director of the UBS Oncology Impact Fund managed by MPM; and Priyanka Belawat, Ph.D. Investment Advisor at HBM Partners will join the iTeos Board of Directors.
The company intends to use the funds to accelerate development of innovative next-generation immunooncology pipeline into the clinic and the expansion into its new U.S.-based offices in Cambridge, Massachusetts.
Led by Michel Detheux, Ph.D., Chief Executive Officer, iTeos is to move EOS100850, an insurmountable and non-brain penetrant adenosine A2A receptor antagonist, into the clinic in 2018 and toward clinical proof-of-concept, and EOS884448, an anti-TIGIT antibody, into the clinic in 2019. The company’s development pipeline also includes additional drug candidates targeting the tumor microenvironment.
The company was founded out of the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute (Université Catholique de Louvain) in 2011.