STipe Therapeutics, an Aarhus, Denmark-based biotechnology company, raised €20m in Series A financing.
The round was co-led by Novo Seeds, the company creation team of Novo Holdings, and Arix Bioscience plc, who were joined by Wellington Partners Life Science Venture Capital Management GmbH and Sunstone LSV General Partner IV ApS.
The company intends to use the funds to continue to develop its therapies.
Led by Dr Claus Elsborg Olesen, CEO, STipe Therapeutics is leader in the immune-oncology field advancing therapies using a novel aspect of the stimulator of interferon genes (STING) Pathway to target cancer. The company is exploiting the innate immune response to target a range of solid tumours, both directly and in combination with other antitumoral agents.
STipe was spun out from Aarhus University, Denmark, in 2018 with the support of a PreSeed Grant from the Novo Nordisk Foundation and subsequently taking part in the Creation House program, including a convertible loan, from BioInnovation Institute (the Novo Nordisk Foundation’s Biotech Incubator initiative).