NeoPhore is a Cambridge-based company focused on the discovery and development of novel molecule therapies to treat cancer. This is possible by stimulating the immune system. Now, the small molecule neoantigen immuno-oncology company has secured £15.2 million Series B funding.
Plans to advance drug discovery pipeline
The investment round was led by Claris Ventures along with participation from 2Invest, 3B Future Health Fund and Astellas Venture Management and founding investor, the CRT Pioneer Fund. The financing will be used to advance NeoPhore’s drug discovery pipeline.
Dr Robert James, Chairman of NeoPhore, said: “We welcome the new investors to NeoPhore. The recent emergence of novel immunotherapy treatments highlights that the patients’ immune system can both detect and fight cancer. However, long-lived and effective cancer immunity relies strongly on the presence of cancer neoantigens. NeoPhore is discovering drugs that create neoantigens and this financing will enable NeoPhore to cement its leading position in MMR drug discovery.”
Dr Matthew Baker, Chief Executive Officer of NeoPhore, added: “This financing validates NeoPhore’s novel and highly differentiated approach. Our programmes comprise novel first-in-class inhibitors and modulators that target the MMR pathway. These drugs are designed to work in concert with existing immunotherapies to stimulate immunity directly at cancer’s core, effectively forcing cancer cells to reveal themselves to the patients’ immune system. We anticipate a huge patient benefit in the level and durability of anti-cancer responses in a wide range of indications.”
Gets new Board of Directors
In addition to the funding round, Pietro Puglisi from Claris Ventures, Heikki Lanckriet from 2Invest and Marianne Bjordal from 3B Future Health Fund joined NeoPhore’s Board of Directors.
Pietro Puglisi, the Managing Partner at Claris Ventures, said: “We have been impressed by the excellent work achieved by the NeoPhore team and we are excited to be part of such an experienced and engaged investor syndicate. We see tremendous potential to generate first-in-class next-generation immuno-oncology therapeutics to improve clinical outcomes for solid tumour cancer patients.”
Treats cancer effectively
NeoPhore is a spin-out company of Cambridge-based PhoreMost Ltd, which collaborated with its founders Professor Alberto Bardelli and Giovanni Germano in 2017. It works closely with Alberto Bardelli and Dr Luis Diaz to exploit the concept that inhibition of MMR in tumours generates neoantigens that the patients’ own immune system can target with a powerful anti-tumour response. NeoPhore aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients.
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