iOnctura B.V., a Geneva, Switzerland-based clinical stage biopharmaceutical company developing a pipeline of molecules targeting cancer and fibrosis, closed a €15m Series A financing.
The round was led by INKEF Capital and co-led by VI Partners with participation by new investor Schroder Adveq and founding investor M Ventures. In conjunction with the funding, Fiona MacLaughlin, of INKEF Capital and Diego Braguglia of VI Partners, joined iOnctura’s board of directors.
The company intends to use the funds to advance its lead molecule IOA-244, into a Phase I trial in solid tumours and its second program, IOA-289, an ATX-inhibitor, through IND enabling studies.
Founded in 2017 as a spin-out from Merck and led by Catherine Pickering, Chief Executive Officer, iOnctura is advancing IOA-244, a clinical phase, next generation PI3Kδ inhibitor with a unique chemical structure, exquisite selectivity, excellent drug-like properties and an expected best-in-class safety profile. Its second program, IOA-289, is a novel autotaxin (ATX) inhibitor with superior potency compared to clinical-stage ATX inhibitors. IOA-289 is being developed as a first-in-class therapy for solid tumour indications that over express ATX and are burdened with cancer-associated fibrosis.