Geneos Therapeutics, a Plymouth Meeting, Pa.-based developer of neoantigen-targeting cancer immunotherapies, closed its Series A round raising $10.5M.
The round was led by Santé Ventures, joined by Inovio.
The company intends to use the funds to launch operations as a standalone entity and complete IND enabling activities towards the initiation of first-in-human clinical trials.
Created as a spinout of Inovio Pharmaceuticals, Inc. (NASDAQ: INO) Geneos will leverage a proven immunotherapy platform under an exclusive license from Inovio in the field of personalized treatments for cancer.
The technology is designed to identify, design, manufacture, and deliver tumor specific neoantigen-targeted personalized immunotherapies.
Dr. Niranjan Y. Sardesai, Chief Operating Officer of Inovio Pharmaceuticals, co-founded Geneos and has served as the company’s Chief Executive Officer. Concurrently with the Series A financing, he resigned as Inovio COO and will dedicate all his efforts as Geneos’ CEO.
As part of it, Geneos will no longer be a wholly-owned subsidiary of Inovio Pharmaceuticals.