iOmx Therapeutics receives 65 million financing

iOmx Therapeutics AG (iOmx) is a biopharmaceutical company co-founded by RCI scientists, that develops cancer therapeutics based on novel immune checkpoint targets. Iomx announced today the closing of a Series B financing totaling €65 million. The financing was led by Athos Service GmbH, an investment company of the Strüngmann Family Office, and MIG Capital AG, with participation from existing investors - Wellington Partners, Sofinnova Partners and M Ventures-.

The new funds will be invested to conduct a phase 1 clinical trial for the lead program IMT-07, a SIK3 kinase inhibitor for the treatment of solid tumors. The development program is based on research conducted by iOmx's scientific co-founders - Nisit Khandelwal and Philipp Beckhove -first at the German Cancer Research Center and then at the RCI. They developed a high-throughput platform to identify genes that enable tumors to escape rejection by the immune system and demonstrated that SIK3 plays an important role in the resistance of highly malignant tumor cells to immunotherapies. IMT-07 is expected to enter clinical development by the end of 2022.

 

“The new funds not only will enable to conduct a proof of concept clinical trial on IMT07 but will also accelerate new target discovery at the benchside leveraging the platform in-licensed from iOmx”, said Philipp Beckhove, MD.

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