iOmx Therapeutics raises 65 million euros in Series B

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DGAP-News: iOmx Therapeutics AG / Keyword (s): Funding
05.10.2021 / 10:30
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iOmx Therapeutics raises 65 million euros in Series B

Martinsried / Munich, Germany, October 5, 2021 – iOmx Therapeutics AG (iOmx), a biopharmaceutical company developing cancer therapies based on next-generation immune checkpoint targets, today announced the closing of a Series B funding round for a total of 65 millions of euros. The financing was co-led by Athos Service GmbH – the Strüngmann family office – and MIG Capital AG, with the participation of existing investors Wellington Partners, Sofinnova Partners and M Ventures.

The new funds will be invested to advance the company’s flagship program IMT-07, a SIK3 kinase inhibitor to treat solid tumors, through the first human clinical trial, and to further develop IMT-18, a first IGSF11 in its category. -targeting antibody to treat tumors resistant to PD-1 / PD-L1. Additionally, iOmx will continue to leverage its target discovery platform, iOTarg, to advance new immune checkpoint programs to drive the candidate step.

“Using our iOTarg platform, we previously identified two novel immune checkpoint molecules expressed by cancer cells, SIK3 and IGSF11, and showed that blocking these targets with our proprietary drug candidates has anti-cancer effects. -tumors and the potential to treat tumors that cannot otherwise be treated with existing immune therapies, ”said Dr Apollon Papadimitriou, CEO of iOmx. “It gives us great confidence to have the support of such an experienced group of investors, encouraging our work to advance the science of immuno-oncology with a focus on our core program IMT-07 to enter. in clinic at the end of 2022. We are excited to transform iOmx into a clinical stage company. “

Dr Matthias Kromayer, Managing Partner of MIG Capital, commented, “In the vital world of cancer immunotherapy, iOmx’s platform technology stands out because it selects novel drug immune checkpoint targets on tumor cells instead of T cells, thus enabling the development of drugs that can prevent tumor immune evasion. He added: “We are delighted to join a consortium of world class investors and to start working with a highly talented and dedicated team at iOmx”.

Dr. Gerald Moeller, Chairman of the iOmx Supervisory Board commented, “We now have the financial strength to move forward dynamically. the company. “

About iOmx Therapeutics

iOmx Therapeutics (www.iomx.com) is a biopharmaceutical company specializing in the development of first-class anti-cancer immunotherapies addressing new immune checkpoints hijacked by cancer cells. Use your iOTargMT A high-throughput screening platform, iOmx has identified a number of next-generation immune checkpoints associated with tumors and is advancing a preclinical-stage pipeline of promising drug candidates that have the potential to treat immunotherapy-resistant cancers current. The company’s main program, IMT-07, targets SIK3, an immune protective kinase in multiple solid tumors; the IMT-18 program is a first-class antibody designed to inhibit IGSF11, an immune checkpoint in PD-1 / PD-L1 resistant tumors. Founded in 2016 based on the work of its scientific founders Philipp Beckhove, MD, and Nisit Khandelwal, Ph.D., conducted at the German Cancer Research Center, iOmx is backed by international venture capitalists, such as Wellington Partners, Sofinnova Partners and M Ventures as well as MIG Capital and Athos Service. iOmx is based in Martinsried / Munich, Germany.

About Athos Service GmbH

ATHOS Service GmbH is the Family Office of the Strüngmann family.

About M Ventures

M Ventures is the strategic corporate venture capital arm of Merck. Its mandate is to invest in innovative technologies and products with the potential to have a significant impact on the core business areas of the company. From its headquarters in Amsterdam and offices in the United States and Israel, M Ventures invests globally in transformational ideas driven by great entrepreneurs. M Ventures plays an active role in its portfolio companies and teams up with entrepreneurs and co-investors to translate innovation into business success. M Ventures has a strong focus on early stage investments and business creation, including the creation of spin-offs to leverage the company’s science and technology base. For more information, visit www.m-ventures.com.

About MIG Capital SA

MIG Capital AG (formerly MIG Verwaltungs AG) is one of Germany’s leading venture capital investors. MIG invests through MIG funds in young deep tech and life science companies in German-speaking Europe and beyond. The company has so far invested more than 600 million euros in more than 40 companies. MIG’s portfolio companies are developing innovations in areas such as biopharmaceuticals, artificial intelligence / machine learning, quantum technologies, digitization / IoT, precision medicine and digital health. MIG’s investment portfolio currently consists of 28 companies.

MIG’s investment team consists of a dedicated group of experts of engineers, biologists, scientists and investors who use analytical and creative processes to assess the risks and opportunities of business models and technologies. Their notoriety, their experience and their network provide excellent access to companies, institutions and decision-makers in order to support the growth of the companies in their portfolio.

In recent years, MIG AG has successfully sold its portfolio companies SuppreMol (to Baxter in 2015), sunhill technologies (to Volkswagen in 2015), Ganymed (to Astellas in 2016) and Siltectra (to Infineon in 2018), and led BRAIN (in 2017), NFON (in 2018), BioNTech (in 2019) and Immatics (in 2020) on stock market listings.

For more information, please visit: http://www.mig.ag, www.mig-fonds.de

About Sofinnova Partners

Sofinnova Partners is a leading European life sciences venture capital firm specializing in health and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from around the world with strong scientific, medical and commercial expertise. Sofinnova Partners is a practical business builder across the entire life science investment value chain from seed to later stage. The firm actively partners with ambitious entrepreneurs as lead or cornerstone investors to develop transformative innovations that have the potential to positively impact our collective future.

Founded in 1972, Sofinnova Partners is a well-established venture capital firm in Europe, with 50 years of experience supporting over 500 companies and building market leaders around the world. Today, Sofinnova Partners manages more than 2 billion euros. For more information, visit: www.sofinnovapartners.com

About Wellington Partners

Wellington Partners is a leading European venture capital firm investing in early stage and growing life sciences companies. Wellington Partners is focused on investing in the most promising life science companies in innovative therapies, medical technology, diagnostics and digital health. With funds totaling over 1.0 billion euros, including 450 million euros dedicated to life sciences, Wellington Partners actively supports world-class private companies translating true innovation into successful businesses with exceptional growth. To date, Wellington Partners has invested in 53 innovative life science companies including Actelion (acquired by J&J), Definiens (acquired by AZ), invendo (acquired by Ambu), Rigontec (acquired by MSD), Symetis (acquired by by Boston Scientific), Oxford Immunotec (acquired by PerkinElmer), immatics (Nasdaq: IMTX) and Themis (acquired by MSD).

For more information, please visit: www.wellington-partners.com/ls

Contact

MC Services SA
Katja Arnold, Julia von Hummel, Shaun Brown
T: +49 (0) 89 2102280
[email protected]

05.10.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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