iOmx Therapeutics raises EUR 40 million in Series A round
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iOmx /
iOmx Therapeutics raises EUR 40 million in Series A round
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- Company establishes top-tier investor base consisting of MPM Capital,
Sofinnova Partners, Wellington Partners and Merck Ventures
Martinsried / Munich, Germany, September 22, 2016 -- iOmx Therapeutics AG
(iOmx), a biopharmaceutical company developing cancer therapeutics based on
novel immune checkpoint targets, today announced the closing of a Series A
financing round totaling EUR 40 million. MPM Capital and Sofinnova Partners co-
led the round, and were joined by Wellington Partners and Merck Ventures.
iOmx focuses on the development of first-in-class cancer therapeutics addressing
next-generation immune checkpoints. By systematically screening human tumor
cells, the company has already identified a number of new targets and analyzed
their mode of action. The proceeds of the financing round will be used to
advance several proprietary product candidates up to initial clinical proof-of-
concept.
iOmx was founded based on work from the laboratory of oncology expert and co-
founder Philipp Beckhove, previously at the German Cancer Research Center,
Heidelberg, and now at the RCI Regensburg Center for Interventional Immunology.
The company's innovative screening platform was developed by co-founder Nisit
Khandelwal, SVP of Research. Additional co-founders include highly experienced
biotech executives and internationally renowned cancer specialists Patrick
Baeuerle, Elmar Maier (CBO), and Sebastian Meier-Ewert (CEO).
"The development of checkpoint inhibitors represents a major advance in the
treatment of certain cancers. However, despite some truly transformative
successes, to date only a minority of patients benefit from existing treatment
options. We aim to bring the advances in immuno-oncology to a greater proportion
of cancer patients," said Sebastian Meier-Ewert, CEO of iOmx. "Therefore, we are
proud to have attracted such an outstanding international investor base. The
round was significantly oversubscribed, highlighting the expectation that immune
checkpoint-based cancer therapeutics have great potential for changing the
oncology landscape - and iOmx is excellently positioned to play a leading role
in this field."
"We are thrilled to back iOmx, together with such a high profile investor
syndicate. The company combines all the key features we are looking for when
investing: an exceptional management team, world class science, and a market
breaking technology platform that has the potential to build a strong pipeline
of proprietary and more efficacious cancer therapeutics," said Henrijette
Richter, Chairwoman of iOmx' Board of Directors and Partner at Sofinnova
Partners.
###
About iOmx Therapeutics
iOmx (www.iomx.de) focuses on the development of first-in-class cancer
therapeutics addressing novel immune checkpoints on cancer cells. The company's
proprietary platform systematically screens tumor cells for specific immune
checkpoint modulators, which allow targeting the tumor's immune resistance
mechanisms. iOmx is building a pipeline of promising cancer immunotherapeutics
based on novel, proprietary targets with a known mode of action. Founded in
March 2016 based on the work of its scientific founders Philipp Beckhove and
Nisit Khandelwal conducted at the German Cancer Research Center, the company has
raised EUR 40 million in early July 2016 from MPM Capital (both its BV2014 and
UBS Oncology Impact Funds), Sofinnova Partners, Wellington Partners and Merck
Ventures and is based in Martinsried / Munich, Germany.
About MPM Capital
MPM Capital (http://www.mpmcapital.com) is an early-stage life sciences venture
investing firm that works to identify and build companies that seek to cure
major diseases by translating scientific innovations into positive clinical
outcomes. MPM's portfolio of companies aims to revolutionize the face of
medicine across multiple areas including cancer, diabetes, obesity, pain,
eHealth and more. With its experienced and dedicated team of operating
executives, and medical and scientific advisory board, MPM is powering novel
medical breakthroughs that transform patient lives.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in
Life Sciences. Based in Paris, France, the firm brings together 12 highly
experienced investment professionals from all over Europe, the US and China. The
firm focuses on paradigm shifting technologies alongside visionary
entrepreneurs. Sofinnova Partners seeks to invest as a founding and lead
investor in start-ups and corporate spin-offs, and has backed nearly 500
companies over more than 40 years, creating market leaders around the globe.
Today, Sofinnova Partners has over ?1.5 billion under management. For more
information, please visit: www.sofinnova.fr.
About Merck Ventures
Merck Ventures is the strategic, corporate venture capital arm of Merck. Its
mandate is to invest in innovative technologies and products with the potential
to significantly impact Merck's core business areas. From our headquarters in
Amsterdam and offices in the US and Israel we invest globally in
transformational ideas driven by great entrepreneurs. Merck Ventures takes an
active role in its portfolio companies and teams up with entrepreneurs and co-
investors to translate innovation towards commercial success. Merck Ventures has
a significant focus on early-stage investing and company creation including the
creation of spin-offs to leverage Merck's science and technology base.
About Wellington Partners
Wellington Partners is among the most successful pan-European Venture Capital
firms. With more than ? 800 million under management and offices in Munich,
London and Zurich, Wellington Partners invests in start-up companies throughout
Europe that have the potential to become global leaders in the areas of life
sciences, digital media and resource efficiency. Since 1998, Wellington Partners
has invested in more than 100 companies, including publicly listed firms like
4SC, Actelion, Evolva, Genticel, Oxford Immunotec, Supersonic Imagine, Wavelight
(acquired by Alcon) and Xing as well as privately held companies like AyoxxA,
Definiens (acquired by Medimmune), Endostim, Grandis (acquired by Novartis), G-
Therapeutics, Imevax, immatics, Immobilienscout24 (acquired by Deutsche
Telekom), invendo medical, MPM Medical, MTM Laboratories (acquired by Roche),
NEUWAY Pharma, Oxagen/Atopix, Quanta, Rigontec, Sapiens (acquired by Medtronic),
Sensimed, Symetis, Spotify and Themis. For further information, please visit
www.wellington-partners.com.
Contact & Media Inquiries
akampion
Dr. Ludger Wess / Ines-Regina Buth
Managing Partners
info(at)akampion.com
Tel. +49 40 88 16 59 64
Tel. +49 30 23 63 27 68
Press release (PDF):
http://hugin.info/173219/R/2043971/763176.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: iOmx via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 22.09.2016 - 17:45 Uhr
Sprache: Deutsch
News-ID 496527
Anzahl Zeichen: 8157
contact information:
Town:
Martinsried
Kategorie:
Business News
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