– DENMARK, Copenhagen – IO Biotech, a clinical-stage biopharmaceutical company developing novel, immune-modulating anti-cancer therapies based on its proprietary T-win technology, today announced that the company has raised EUR 127 million in Series B financing led by HBM Healthcare Investments with the participation of existing investors Novo Seeds, Lundbeckfonden Emerge and Sunstone Life Science Ventures.
Other new investors joining the round included Vivo Capital, Kurma Partners, Avoro Capital, RA Capital, Samsara Biocapital, Idinvest Partners, PFM Health Sciences, Soleus Capital, Eir Ventures, and Serrado Capital.
Emmanuelle Coutanceau, Partner at Novo Seeds and IO Biotech Board Member said: “Having initially invested in IO Biotech at the seed stage in January 2014, we have supported the company throughout its journey and are delighted to continue as it reaches this milestone in its successful development. This very large financing round, involving a strong syndicate of well-renowned investors, is a testament to IO Biotech’s team and the potential of its therapies for the treatment of metastatic melanoma. For Novo Seeds, it represents another example of our company creation efforts, identifying and building world-class companies that are developing innovative treatments for patients with unmet medical needs.”
“We are very pleased that Novo Seeds is supporting us once again alongside such a strong group of investors backing our company. I am proud that this financing round had such a high interest and can close oversubscribed,” said CEO and founder, Dr. Mai-Britt Zocca. “The funding will enable us to execute on our breakthrough therapy designation grant and advance our lead programs in late-stage clinical development, as we are committed to bringing our treatment to patients as soon as possible.”
About IO Biotech
IO Biotech is a clinical-stage biotech company developing disruptive immune therapies for the treatment of cancer. The pipeline of first-in-class immune modulating anti-cancer therapies is developed by a unique technology platform, T-win®, enabling the activation of T cells that are specific for immune-suppressive molecules. IO Biotech has a proven track record of progressing preclinical and clinical compounds. The two lead compounds targeting IDO and PD-L1 are in clinical development and several pipeline compounds are in the pre-clinical phase.
For more information: http://www.iobiotech.com/
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