NeoPhore, a London, UK-based small molecule neoantigen immuno-oncology company, raised additional £9.6M in Series B funding.
The round, which brought the total amount to £31.1M, saw participation from its existing syndicate, CPF managed by Sixth Element Capital, Claris Ventures, Astellas Venture Management, 3B Future Health Fund, 2investAG, and the addition of three new investors – NEVA SGR (the venture capital arm of Intesa Sanpaolo banking group), LIFTT (the venture capital focused on deep-tech chaired by Stefano Buono) and Simon Fiduciaria.
The company intends to use the funds to further advance its drug discovery pipeline.
Led by CEO Dr Matthew Baker, NeoPhore is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. Generation of cancer neoantigens in tumours can be exploited by the patients’ immune system to overcome natural defence mechanisms in cancer. Its approach targets the DNA mismatch repair (MMR) pathway, which has been proven to promote neoantigen creation and subsequent immunity against numerous cancers. Using these insights, the company aims to generate immuno-oncology therapeutics to improve clinical outcomes for cancer patients.
NeoPhore was spun-out of the University of Turin andPhoreMost Ltd by the CRT Pioneer Fund.
Commenting on the news, Matthew Baker said: “NeoPhore has made excellent progress throughout 2023. With the support of our committed and new investors, along with our research collaborations with academic institutions that are in place, we remain on track to deliver a candidate drug for our lead PMS2 program by early 2025.”
FinSMEs
01/02/2024