Abalos Therapeutics Raises €32.5M in Series A Extension


Abalos Therapeutics, a Dusseldorf, Germany-based company harnessing arenaviruses in a differentiated immuno-virotherapy approach to fight cancer, raised €32.5M in Series A extension round.

This additional round, which brings the total raised to date to €43m (USD50m), was led by Seventure Partners with participation from Coparion, Ventura BioMed Investors and Hx Bio Ventures as well as existing investors including Boehringer Ingelheim Venture Fund (BIVF), Gründerfonds Ruhr, NRW.BANK and High-Tech Gründerfonds (HTGF). In conjunction with the closing of the Series A financing round extension, Annegret de Baey from Seventure Partners and Sebastian Pünzeler from Coparion will join Abalos’ Supervisory Board.

The company intends to use the funds to advance its first product candidate into a Phase 1/2 trial in multiple solid tumors including the expansion cohorts to demonstrate early signs of clinical efficacy as well as fund further pipeline expansion.

Led by Dr. Marcus Kostka, CEO, Abalos Therapeutics is advancing a technology platform that harnesses the unique features of the lymphocytic choriomeningitis virus (LCMV), which specifically targets tumor cells. Through its proprietary Fast Evolution Platform, the company is generating variants with optimized anti-tumoral properties to trigger a highly precise and directed immune response that can be utilized for distant metastases and enable long-term disease control.