Tilt Biotherapeutics Ltd, a Helsinki, Finland-based oncolytic immunotherapy startup, closed a €4.0M (approx. $4.3M) financing round.
Backers included Lifeline Ventures Ltd, the Finnish Funding Agency for Technology and Innovation (Tekes), the European Commission, and business angels.
The company, which has raised almost 10M€ (~$10.6M) in total funding, intends to use the funds to progress its lead candidate, TILT-123, into Phase I clinical trials.
Founded in 2013 by CEO Akseli Hemminki, Tilt Biotherapeutics enables tumor T-cell therapy by leveraging its patented technology which involves utilization of oncolytic viruses for enhancement of tumor T-cell therapy.
The lead candidate, TILT-123, is a preclinical stage TNFα/IL2 armed oncolytic adenovirus. GMP production is ongoing and the first phase I clinical trials are aimed to start early 2018. TILT-123 will be used to enhance tumor infiltrating lymphocyte (TIL), chimeric antigen receptor (CAR-T), and checkpoint inhibiting antibody therapy.
One of the trials, for which the funding raised will be used, will take place in two centers in Europe and address metastatic melanoma in combination with TILT-123 and TILs.