Date: 2017-07-28
Type of information: Grant
Company: Iteos Therapeutics (Belgium)
Investors: Walloon Region (Belgium)
Amount: € 7.5 million
Funding type: grant
Planned used:
- iTeos is a spin-off from the Ludwig Cancer Research (LICR) and de Duve Institute (UCL). The company is focused on expanding the benefits of immunotherapy for cancer patients by developing a proprietary pipeline targeting A2A, immune checkpoints and non-immunogenic tumors. It has licensed its IDO1 program, currently in Phase 1 development, to Pfizer. This non-dilutive funding will be used to support the clinical development of Iteos Therapeutics A2A antagonist drug candidate. A clinical trial is expected to be initiated in Belgium in 2018.
Others:
- • On July 28, 2017, iTeos Therapeutics announced that it has been granted € 7.5 million in non-dilutive funding to support the clinical development of its lead anti-cancer drug. The funding has been approved on behalf of the Walloon Region by Mr. Jean-Claude Marcourt, Minister for Economy, Industry, Innovation and New technologies.
- The non-dilutive funding is granted under the form of ‘avances récupérables’ to support specific research and development programs. Under the applicable conditions, the funding is reimbursable over the economic life of the project. Thirty percent is refundable based on a fixed reimbursement schedule, while the balance is refunded under the form of royalties over the same period.
Therapeutic area: Cancer - Oncology
Is general: Yes
