Geneva-based biopharma startup raises €15 million

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24.01.2020
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Founded in 2017 in Geneva, iOnctura is developing a pipeline of next-generation molecules targeting cancer and fibrosis. The proceeds will be used to move the lead molecule into a Phase I trial in solid tumours and its second program through IND enabling studies.

iOnctura is a clinical-stage biopharmaceutical company founded as a spin-out from Merck, with Merck and Cancer Research UK. The company provides a best-in-class pipeline of molecules that harness both direct and immune-mediated anti-cancer activities in solid cancers and cancer fibrosis. The company’s pipeline comprises of three best in class molecules that harness the combined effect of immune-mediated and direct anti-tumour activity.

Today, the company announced the receipt of €15 million from both new and old investors who participated in the Series A round. The superior properties of IOA-244 are expected to enable iOnctura to be the first company to clinically demonstrate that highly selective PI3Kδ inhibition not only drives an immune-mediated response but also a direct anti-tumoral effect in a stratified patient population across multiple solid tumour indications.

Catherine Pickering, CEO of iOnctura, commented: “iOnctura has made significant progress with its two lead molecules. We are very excited to move our first molecule into human clinical testing and accelerate our second molecule towards clinical trials. We welcome new investors INKEF Capital, VI Partners and Schroder Adveq to iOnctura and with the continued support from our founding investor M Ventures, we look forward to taking iOnctura into the next stage of development.”

Commenting on their continued support, Hakan Goker, Chairman of iOnctura board and Executive Investment Director, M Ventures said, “the differentiated and targeted clinical approach iOnctura is using offers significant potential to treat patients with life-threatening diseases. We are excited to provide continued support to iOnctura as it advances its pipeline into the clinic.”

In line with the investment, iOnctura has also welcomed Fiona MacLaughlin, of INKEF Capital and Diego Braguglia of VI Partners to its board of Directors.

(Press release / RAN)

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