Date: 2017-06-20
Type of information: Financing round
Company: iOnctura (Switzerland)
Investors: Merck Ventures (Germany)
Amount:
Funding type: financing round
Planned used:
- iOnctura is a new company formed around two assets from the Healthcare R&D portfolio of Merck KGaA and three
assets from Cancer Research Technology (CRT). The company aims to develop a pipeline of assets that target and modulate
mechanisms that drive immunosuppression in the tumor microenvironment. IND-enabling studies for a selective PI3K? inhibitor and an anti-Lag 3 antibody are currently ongoing. Preclinical studies are also on track for three products (ATX inhibitor, antiCXCL12 antibody and antiCD73 antibody).
- iOnctura, through its alliances with Merck and CRT, has already built a pipeline of promising programs and entered a research collaboration with CRT Discovery Laboratories. In exchange for the exclusive global option to license three immuno-oncology assets from CRT, iOnctura will provide CRT with an initial equity holding in the company and will make further payments for the achievement of late development and approval milestones as well as royalties on net sales.
- iOnctura has also secured access to future supply of avelumab, being co-developed and cocommercialized by Merck KGaA and Pfizer, which will enable acceleration into initial clinical
proof of concept studies.
Others:
- • On June 20, 2017, Merck KGaA announced its corporate venture arm Merck Ventures created iOnctura. This immuno-oncology spin-out company was formed around two assets from the Healthcare R&D portfolio of Merck KGaA and three assets from Cancer Research Technology (CRT), the commercial arm of Cancer Research UK. Merck Ventures will manage the investment and will be represented on iOnctura’s board of directors.
Therapeutic area: Cancer - Oncology
Is general: Yes
