iOmx Therapeutics AG, a Martinsried / Munich, Germany-based biopharmaceutical company developing cancer therapeutics based on next generation immune checkpoint targets, closed a Series B round totaling EUR 65m.
The round was co-led by Athos Service GmbH – the Strüngmann family office – and MIG Capital AG, with participation from existing investors Wellington Partners, Sofinnova Partners and M Ventures.
Founded in 2016 based on the work of its scientific founders Philipp Beckhove, MD, and Nisit Khandelwal, Ph.D., conducted at the German Cancer Research Center and led by Dr. Apollon Papadimitriou, CEO, iOmx Therapeutics is a biopharmaceutical company focused on developing first-in-class cancer immunotherapies addressing novel immune checkpoints hijacked by cancer cells. Utilizing its iOTarg™ high-throughput screening platform, iOmx has identified a number of proprietary tumor-associated next-generation immune checkpoints and is advancing a preclinical stage pipeline of promising drug candidates that have the potential to address cancers that are resistant to current immunotherapies. The company’s lead program IMT-07 targets SIK3, an immune protective kinase in multiple solid tumors; the IMT-18 program is a first-in-class antibody designed to inhibit IGSF11, an immune checkpoint in PD-1/PD-L1-resistant tumors.
The new funds will be invested to advance its lead program IMT-07, to further develop IMT-18, and continue to leverage its target discovery platform, iOTarg, to advance additional novel immune checkpoint programs to lead candidate stage.