Geneva-based startup iOnctura has raised an additional EUR 5.1 million bringing its total Series A financing to EUR 20.1 million. New investor 3B Future Health Fund alongside existing international investors, contributed to the round. The funding will enable iOnctura to accelerate the development of its next-generation dual immune and tumour targeting therapies.
iOnctura SA is a clinical-stage biopharmaceutical company developing a pipeline of next-generation molecules targeting cancer and fibrosis. The company’s lead programme, IOA-244, entered the clinic in Q1 2020 to clinically demonstrate for the first time that a highly selective PI3Kδ inhibition drives not only an immune-mediated response but also a direct anti-tumoral effect in a stratified patient population across multiple solid tumour indications. The second molecule is a novel autotaxin (ATX) inhibitor at IND stage for patients with solid tumours burdened with cancer-associated fibrosis.
Today, the startup announced the receipt of an additional EUR 5.1 million bringing the total Series A financing to EUR 20.1 million. New investor 3B Future Health Fund, previously known as Helsinn Investment Fund S.A., SICAR joins the existing blue-chip investor syndicate of M Ventures, INKEF Capital, VI Partners, and Schroder Adveq, which all participated in the extension.
The funding will enable iOnctura to accelerate the development of its next-generation dual immune and tumour targeting therapies. Data emerging from early clinical evaluation of its lead molecule IOA-244, a highly selective PI3Kδ-inhibitor, in solid tumours is expected to enable progress into a Phase Ib trial earlier than anticipated and preclinical development of its second program, IOA-289, an ATX-inhibitor with dual utility in organ-specific and cancer-associated fibrosis will be expedited into human testing in early 2021.
Catherine Pickering, CEO of iOnctura, said: “I am pleased to welcome 3B Future Health Fund to our strong investor syndicate. This oversubscribed Series A round provides further validation and support of our strategy as we progress our novel, highly selective, PI3Kδ inhibitor and our differentiated ATX inhibitor through clinical development.”
Riccardo Braglia, 3B Future Health Fund Chairman and Helsinn Group Vice Chairman and Chief Executive Officer, commented: “We look to invest in early-stage companies which are developing novel treatments in areas of high unmet patient need. We have been very impressed with the world-class team at iOnctura and the potential of its next-generation molecules targeting cancer and fibrosis.”(Press release)
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