PDC*line Pharma, a Liege, Belgium and Grenoble, France-based clinical stage biotech company developing a new class of potent and scalable active immunotherapies for cancers, completed its €20m Series B round of financing.
This included €13.9M ($15.5M) from new backers Korean Investment Partners, Shinhan-Cognitive Start-up Fund and UTC 2019 BIOVENTUREFUND, SRIW (The Regional Investment Company of Wallonia) and Sambrinvest (the investment fund of Charleroi), and €6.1M ($6.8M) in loans and subsidies from the Walloon Region of Belgium. The new investors joined historical backers SFPI-FPIM, the Belgian Federal Holding and Investment Company, Noshaq Group (ex-Meusinvest), the Financière Spin-off Luxembourgeoise/INVESTSUD Group and a group of international business angels and entrepreneurs.
The company intends to use the funds to advance its development efforts.
Founded in 2014 as a spin-off of the French Blood Bank (EFS) and led by Eric Halioua, president & CEO, PDC*line Pharma is a clinical-stage biotech company that develops an innovative class of active immunotherapies for cancers, based on a GMP-grade allogeneic therapeutic cell line of plasmacytoid dendritic cells (PDC*line). Following a first-in-human phase I feasibility study in melanoma, the company focuses on the development of PDC*lung01, a candidate for non-small-cell lung cancer (NSCLC) currently in phase I/II, and PDC*neo with neoantigens in preclinical development.
The company, which has a staff of 22, granted an exclusive license to the LG Chem Life Sciences company in South Korea and an exclusive option in other Asian countries, for the development and commercialization of the PDC*lung01 cancer vaccine for lung cancer. The total deal is worth €108M ($120M), plus tiered royalties on net sales in Asia.