- 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 upto initial clinical proof-of-concept.
iOmx was founded based on work from the laboratory of oncology expert and co-founder PhilippBeckhove, 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-upcompanies 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 .
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Last updated on: 23/09/2016
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