- Oversubscribed financing round led by new U.S. investor MPM Capital
- Proceeds to support accelerated development of innovative next-generation immuno-oncology pipeline into the clinic and the company’s expansion into the U.S.
Gosselies, Belgium – June 20, 2018 – iTeos Therapeutics SA, a biotechnology company developing novel cancer immunotherapies, today announced the completion of an oversubscribed $75 million (€64 million) Series B financing led by MPM Capital, with participation from additional new investors HBM Partners, 6 Dimensions Capital and Curative Ventures. All existing investors also participated in this financing round including Fund +, VIVES II and SRIW, as well as SFPI.
“This oversubscribed financing underscores the enormous potential of our innovative next-generation immuno-oncology pipelineand confirms the confidence in ourleadership team to deliver value for patients and investors. We plan to continue to rapidly advance our promising therapies into the clinic and to design additional therapeutic candidates based on our industry leading drug discovery and early clinical development expertise,” said Michel Detheux, Ph.D., Chief Executive Officer of iTeos.“We are grateful for the continued support of our existing investors and look forward to welcoming the new investors who participated in this Series B financing. We are confident their guidance will prove invaluable as we continue our growth.”
Proceeds from this financing will support the advancement of several promising best-in-class immuno-oncology programs within iTeos’ unique pipeline into the clinic. This financing will also support the company’s expansion into its new U.S.-based offices in Cambridge, Massachusetts. Specifically, the funding will enable iTeos to move EOS100850, an adenosine A2Aantagonist, into the clinic in 2018 and toward clinical proof-of-concept, and EOS884448, an anti-TIGIT antibody, into the clinic in 2019. The Company’s development pipeline also includes additional drug candidates targeting the tumor microenvironment.
“We believe iTeos is a strong investment opportunity with several promising immuno-oncology drugs in its pipeline that have significant clinical advantages over competitive drug candidates,”said Dr. Gadicke, Co-founder and Managing Director of MPM. “Michel and his team have an excellent track record of discovering new ways to fight cancer and strategically growing the operations. MPM is very excited to be involved as the company expands into the U.S. and continues its evolution.”
Ansbert Gadicke, M.D., Co-founder and Managing Director of MPM; Christiana Bardon M.D., Managing Director of the UBS Oncology Impact Fund managed by MPM; and Priyanka Belawat, Ph.D. Investment Advisor at HBM Partners will join the iTeos Board of Directors.
About iTeos Therapeutics
iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to extending and improving the lives of cancer patients by designing and developing next generation immunotherapies. The Company is advancing EOS100850, an insurmountable and non-brain penetrant adenosine A2A receptor antagonist, into a Phase I trial in the second half of 2018. A second program for its human ADCC-enabling anti-TIGIT antibody (EOS884448) is expected to enter the clinic in 2019. Based in Gosselies, Belgium, iTeos Therapeutics was founded out of the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute (Université Catholique de Louvain) in 2011, with funds from the LICR, Fund+, VIVES II-Louvain Technology Fund, private investors and the Walloon Region of Belgium and the European Fund for Economic and Regional Development (FEDER). For more information, please visit www.iteostherapeutics.com.
About MPM Capital
MPM Capital is a venture firm founding and investing in early-stage life sciences companies that seek to cure major diseases by translating scientific innovations into positive clinical outcomes. MPM’s portfolio of companies aims to revolutionize the face of medicine across multiple areas including cancer, neuroscience, metabolic disorders and regenerative medicine. With its experienced and dedicated investment team, executive partners and entrepreneurs and its medical and scientific advisory board, MPM is powering novel medical breakthroughs that transform patients’ lives. MPM is investing in iTeos from its BV2014 and BV2018 funds as well as the UBS Oncology Impact Fund managed by MPM, which invests in both public and private equities. For more information, please visit www.mpmcapital.com.
For further information, please contact:
Michel Detheux, CEO
Amber Fennell, Mathew Neal, Sukaina Virji, Hendrik Thys
Consilium Strategic Communications
+44 203 709 5700
Stern Investor Relations, Inc.
+ 1 212 362 1200
+1 617 425 9275
- Proceeds support advancing clinical development of next-generation cancer immunotherapies targeting A2A adenosine receptor and anti-TIGIT immune checkpoint - - Oversubscribed round co-led by new investors RA Capital Management and Boxer Capital - - New investors Janus Henderson Investors, RTW Investments and Invus also participated along with previous Series B investors including MPM Capital and HBM Partners - Cambridge, MA and Gosselies, Belgium – April 1, 2020 – iTeos Therapeutics Inc., a privately-held clinical-stage biotechnology company developing innovative cancer immunotherapies, announced today the closing of an oversubscribed Series B2 financing, which raised a total of $125 million. The Series B2 financing round was co-led by RA Capital Management and Boxer Capital, and included new investors Janus Henderson Investors, RTW Investments and Invus along with existing investors MPM Capital, HBM Partners, 6 Dimensions Capital, Curative Ventures, Fund+, VIVES Louvain Technology Fund, SRIW, and SFPI. Proceeds from the financing will support the Company's continued growth and advance the clinical development of its two lead product candidates, EOS-850, a best-in-class adenosine A2A receptor antagonist and EOS-448, an ADCC-enabled anti-TIGIT antibody. EOS-850 is currently being evaluated in a Phase 1/2 clinical trial both as a single agent and in combination in several solid tumor indications. The Company plans to initiate dosing for the combination cohorts for this trial in the second quarter of 2020. The Company also recently initiated the Phase 1 portion of a Phase 1/2 clinical study of EOS-448, currently being evaluated in patients with solid tumors and hematological malignancies. Proceeds from this financing will also support the advancement of additional first-in-class preclinical programs targeting the adenosine pathway and Tregs. "We are very pleased to have the strong support of this leading class of investors who share our excitement for the highly innovative oncology therapies we have developed at iTeos,” said Michel Detheux, PhD, President and Chief Executive Officer at iTeos. “We look forward to accelerating and expanding our clinical development efforts to identify the most promising indications and combinations for people suffering with cancer. This financing maximizes our ability to execute our development plans alone or in partnership.” "iTeos’ pipeline of best-in-class agents has the potential to usher in a new wave of immuno-oncology therapeutics and the Company is well-positioned to make a significant, positive impact in the treatment of patients with a wide variety of cancer types,” commented Derek DiRocco, Principal, RA Capital Management. “We are thrilled to collaborate with this experienced group of high-quality investors and partner with the iTeos management team as they continue to innovate and progress these exciting programs through clinical development.” “The iTeos team has done a remarkable job developing a pipeline of differentiated, potentially best-in-class cancer therapies,” said Aaron Davis, Co-Founder and Chief Executive Officer, Boxer Capital of the Tavistock Group. “We are pleased to be joining them as they continue to execute and implement their vision for transforming the cancer treatment landscape.” Derek DiRocco and Aaron Davis will join the iTeos Board as Non-Executive Directors. About iTeos Therapeutics iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to transforming the lives of people living with cancer by designing and developing next generation immunotherapies targeting two key resistance pathways to checkpoint therapy: the adenosine pathway and regulatory T cells (Tregs). The Company’s lead program, EOS-850, is a best-in-class adenosine A2A receptor antagonist currently in a Phase 1/2 study. Its second program, a fully human ADCC-enabling anti-TIGIT antibody (EOS-448), entered the clinic in February 2020. iTeos Therapeutics is headquartered in Cambridge, MA with a world-class research center in Gosselies, Belgium. For more information, please visit www.iteostherapeutics.com. About RA Capital Management RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics. The flexibility of its strategy allows RA Capital to provide seed funding to startups and to lead private, IPO, and follow-on financings for its portfolio companies, both facilitating the crossover process and allowing management teams to drive value creation with fewer capital concerns from inception through commercialization. For more information, please visit https://www.racap.com. About Boxer Capital, LLC Boxer Capital, LLC is a private biotechnology investment fund based in San Diego, California that invents and invests in drug development across multiple therapeutic indications. Founded by the life sciences team at Tavistock Group in 2005, Boxer Capital maintains a concentrated portfolio of public and private companies. For more information, please visit www.boxercap.com. For further information, please contact: Michel Detheux, CEO iTeos Therapeutics SA firstname.lastname@example.org Amber Fennell, Paul Kidwell, Matthew Neal and Sukaina Virji Consilium Strategic Communications +44 203 709 5700 email@example.com Sarah McCabe and Zofia Mita Stern Investor Relations, Inc. + 1 212 362 1200 iTeos@sternir.com
Funds will be used to progress iTeos’ two highly innovative clinical-stage oncology programs: a best-in class A2A receptor antagonist and an ADCC-enabled anti-TIGIT antibody drug candidate Gosselies, Belgium and Cambridge, MA – January 30, 2020 – iTeos Therapeutics SA, a privately-held biotechnology company developing innovative cancer immunotherapies, today announced that it has been awarded a total of €15 million in non-dilutive funding to support the clinical development of its two proprietary anti-cancer drug programs, targeting key mechanisms of immunosuppression that are gaining prominence within industry development pipelines. The funding has been approved on behalf of the Walloon Region by Willy Borsus, Minister of Economy and Research. Funding of €11.5 million has been awarded to progress iTeos’ lead candidate EOS-850, a best-in-class adenosine A2A receptor antagonist, and will be used to support the ongoing phase 1b/2a clinical trial, underway at four sites across Europe, and will soon expand to clinical sites in the United States. A second award of €3.5 million will support the Phase 1 clinical trial of iTeos’ fully-human ADCC-enabled anti-TIGIT antibody (EOS-448), which is expected to start in Belgium in February 2020. Michel Detheux, Ph.D., Chief Executive Officer of iTeos, commented, “We are grateful to the Walloon Region for its continued support of iTeos Therapeutics. This investment is invaluable as we seek to progress our two clinical programs. During the last three years, iTeos has developed a comprehensive portfolio of immuno-oncology drug candidates, and these additional Walloon region funds will help us evaluate the performance of our promising lead programs in the clinic.” For further information, please contact: Michel Detheux, CEO iTeos Therapeutics firstname.lastname@example.org Amber Fennell, Catherine Day, Matthew Neal and Sukaina Virji Consilium Strategic Communications +44 203 709 5700 email@example.com Sarah McCabe Stern Investor Relations, Inc. +1 212 362 1200 firstname.lastname@example.org