IO Biotech closes Series A Round including new investor Sunstone Capital to the investor syndicate
Copenhagen, Denmark – December 28, 2016: IO Biotech today announced successful closure of the €8.5 million second tranche series A investment round. Participants were existing investors Lundbeckfonden and Novo Seeds plus new investor Sunstone Capital.
IO Biotech develops novel therapeutic immuno-oncology vaccines targeting immune check point inhibitory targets to treat cancer. IO Biotech is focused on unlocking the full potential of the immune system to recognize and attack cancer cells. Check point vaccines have a unique dual mode of action leading to simultaneous activation of anti-cancer immune responses and direct killing of tumor cells in contrast to known check point inhibitors in clinical use. By leveraging the ability of the natural immune system to fight cancer, the pipeline of IO Biotech has the potential to significantly provide novel effective treatments to the benefit of patients in need.
IO Biotech is planning first dosing of patients in a randomized clinical phase II study of its lead IDO candidate in non-small cell lung carcinoma (NSCLC) in 2017 including clinical centres in both Europe and the US. “Immuno-oncology remains a highly competitive area and we are very excited to be commencing this comprehensive study in NSCLC to fully validate the potential of our dual action IDO check point cancer vaccine. Our current data are very convincing and we now have an even stronger investor syndicate in place to support the company in the next phase. I am very pleased to welcome Sunstone on board; they bring valuable competencies and extensive knowledge on drug development to the company”, says Mai-Britt Zocca, CEO of IO Biotech.
Sunstone Capital’s Claus Andersson comments “We have followed IO Biotech intensely over the past year and are impressed by their scientific approach and progress, the passionate team and - most importantly - the promising perspectives of this new type of treatment in the immuno-oncology setting”.
In addition to the IDO NSCLC study, investigator driven clinical trials are planned exploring combining the company vaccines with other already approved drugs or as a monotherapy.
IO Biotech is a spin-out from Center for Cancer Immune Therapy at University Hospital Herlev, Denmark. For more information, visit www.iobiotech.com
Lundbeckfonden Emerge is the early stage investment unit of Lundbeckfonden, one of the largest industrial foundations in Denmark with a market value of more than DKK 50 billion. In addition to the three subsidiaries, Lundbeck, ALK-Abelló and Falck, the Foundation manages a portfolio of more than 20 life science investments in Europe and the US and owns a portfolio of securities of approx. DKK 14 billion. For more information, visit www.lundbeckfonden.com
Novo Seeds is the early stage investment unit of Novo A/S. Novo A/S is a Danish private limited liability company wholly owned by the Novo Nordisk Foundation, and the holding company of the Novo Group and as such the majority shareholder in the publicly listed companies Novo Nordisk A/S and Novozymes A/S. Novo A/S provides seed, venture and growth capital to development stage companies within life science and biotechnology, as well as manages a broad portfolio of financial assets. For more information, visit www.novo.dk
Sunstone Capital is an early-stage Life Science and Technology venture capital company investing in European start-up companies with strong potential to achieve global success in their markets. Since its establishment in 2007, Sunstone has built a strong portfolio currently totaling 50 companies and has completed several successful trade sales and IPOs. Sunstone Life Science Ventures invests in early-stage Life Science companies in the therapeutic, medical technology and diagnostics fields working on turning science into products benefiting patients worldwide. For more information, visit www.sunstone.eu
For further information please contact:
Mai-Britt Zocca, CEO