Cytovation AS, a Bergen, Norway-based clinical stage immune-oncology company focused on the development of its targeted tumor membrane immunotherapy, closed its Series A financing round, raising a total of NOK 180 million ($20m).
The round was led by Sandwater and Canica.
The company intends to use the funds to
- Progress the CyPep-1 oncology program to Phase II, including expansion of single-agent arms, as well as three combination arms with KEYTRUDA® (pembrolizumab) in head and neck squamous cell carcinoma (HNSCC), triple negative breast cancer (TNBC), and melanoma, in collaboration with MSD;
- Explore opportunities for pipeline development with CyPep-1 targeting patients with high unmet medical need
Lars Prestegarden, MD, PhD, CEO, Cytovation is a clinical stage immune-oncology company focused on the development of CyPep-1, a first-in-class tumorolytic agent targeting the cell membrane of tumor cells. The company is a spin-off from the University of Bergen (Norway). The company’s lead asset CyPep-1 is a proprietary first-in-class targeted tumor membrane immunotherapy engineered to selectively target cancer cells. It eliminates cancer cells by forming pores in the plasma membrane, releasing cancer specific antigens to the immune system, promoting an inflammatory microenvironment and inducing a tumor-specific immune response by in situ vaccination. Preclinical data suggest this mode of action is highly synergistic in combination with checkpoint inhibitors.
FinSMEs
25/01/2022