iOnctura SA, a Geneva, Switzerland-based clinical stage biopharmaceutical company developing a pipeline of next generation molecules targeting cancer and fibrosis, raised an additional €5.1m in Series A financing to €20.1m.
New investor 3B Future Health Fund, previously known as Helsinn Investment Fund S.A., SICAR joined the existing blue chip investor syndicate of M Ventures, INKEF Capital, VI Partners, and Schroder Adveq, which all participated in the extension.
The company intends to use the funds to accelerate development of its dual immune and tumour targeting therapies.
Founded in June 2017 as a spin out from Merck and seed funded by M Ventures and led by Catherine Pickering, Chief Executive Officer, iOnctura is a clinical stage biopharmaceutical company developing a pipeline of next generation, differentiated molecules that are at the forefront of pioneering new therapies for the treatment of cancer. Each of its programs harness the combined effect of immune-mediated and direct anti-tumour activity and aim to deliver molecules with superior clinical efficacy and safety in oncology.
The company’s lead program, IOA-244, entered the clinic in Q1 2020. The study is aimed to clinically demonstrate for the first time that a highly selective PI3Kδ inhibition not only drives an immune-mediated response but also a direct anti-tumoural effect in a stratified patient population across multiple solid tumour indications. Its second molecule is a novel autotaxin (ATX) inhibitor at IND stage for patients with solid tumours burdened with cancer-associated fibrosis.