Date: 2016-11-29
Type of information: Financing round
Company: Cytune Pharma (France)
Investors: PPF Group (Czech Republic) founding shareholders
Amount: € 6 million
Funding type: financing round
Planned used: Cytune Pharma is developing RLI15 and its platform, based on a modified and improved IL-15, allow for combinations with other immunotherapeutic strategies, including checkpoint inhibitors. RLI15 has been proven to stimulate immune effector cells, such as cytotoxic and helper T cells, as well as NK cells, but does not stimulate the immune-inhibitory regulatory T cells or other cells. As established in pre-clinical experiments, RLI15 is more potent and better tolerated compared to the normal IL15 or IL2. The funds will be used to advance the RLI15 lead program to Phase I clinical trials in 2017 and broaden its immunocytokine product pipeline based on RLI15.
Others: * On June 29, 2016, Cytune Pharma, a French biotechnology company focused on developing novel immunotherapies for the treatment of cancer, announced the closing of a €6 million financing round from existing investors. Funds will be used to advance the RLI15 lead program to Phase I clinical trials. Key investor PPF Group and the founding shareholders also agreed on a full buyout of the remaining shares at the start of Phase I. PPF Group and other existing investors participated in the financing.
Therapeutic area: Cancer - Oncology - Infectious diseases
