Date: 2012-05-03
Type of information: Fundraising
Company: iTeos Therapeutics (Belgium)
Investors: Sopartec - VIVES-Louvain Technology Fund (Belgium)
Life Sciences Research Partners (Belgium)
Hunza Ventures SCA (Belgium)
business angels
Amount: €9 million
Funding type: series A equity financing round
Planned used: iTeos Therapeutics has been created to develop a novel pre-clinical pipeline of immunomodulators to stimulate the immune system’s ability to attack cancer. Founded by LICR with the de Duve Institute at the Université catholique de Louvain (UCL), iTeos is led by a team experienced in tumor immunology, immunotherapy, drug discovery, business development and entrepreneurship. iTeos brings together world-class expertise in tumor immunology and immunotherapy, with a focus on developing small molecule immunomodulators to counteract cancer immunosuppression. “iTeos’ mission is to translate pioneering scientific discovery into meaningful treatments for people living with cancer,” said iTeos co-founder and CEO Michel Detheux, Ph.D. “We now know that combination treatments are likely to be more effective than single therapies in controlling and eventually eliminating cancer. iTeos will pursue this approach by combining existing vaccines with new immunodulatory compounds based on research that has just emerged from the Ludwig Institute.”
Others: iTeos Therapeutics is a new drug discovery company focused on the development of immunomodulators for cancer therapy. This joint spin-off of the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute at the Université catholique de Louvain (UCL) has successfully closed its Series A equity financing round. iTeos has raised €3.0 million from LICR, Hunza Ventures SCA, Life Sciences Research Partners, VIVES Louvain Technology Fund and several business angels. This financing complements a €6 million non-dilutive grant from the Belgian Walloon Government, which was received in December 2011. iTeos Therapeutics is based in Gosselies.
Therapeutic area: Cancer - Oncology
