Abalos Therapeutics Completes Series A Extension Bringing Total Raised To Eur 43 Million
10/14/21, 9:00 AM
Location
düsseldorfRound Type
series a
Abalos Therapeutics announced today an extension to its Series A funding round bringing the total raised in this round to EUR 43 million (USD 50 million). The extension was led by Seventure Partners with support from Coparion, Ventura BioMed Investors and Hx Bio Ventures as well as contributions from existing investors from the initial Series A round including Boehringer Ingelheim Venture Fund (BIVF), Gründerfonds Ruhr, NRW.BANK and High-Tech Gründerfonds (HTGF). The financing underscores the potential of Abalos’ differentiated immuno-virotherapy approach to generate a maximal immune response specifically targeted against a patient’s cancer and its metastases. The proceeds will enable the company to advance its first product candidate into a Phase 1/2 trial in multiple solid tumors including the expansion cohorts to demonstrate early signs of clinical efficacy as well as fund further pipeline expansion.
Company Info
Location
düsseldorf, north rhine-westphalia, germany
Additional Info
Abalos Therapeutics has harnessed the unique immune stimulation of the arenavirus to develop a novel anti-cancer approach that provides the full breadth of the immune system’s power specifically against cancer cells. Through viral replication within cancer cells, Abalos’ arenavirus-based drug candidates are designed to awake precise innate and adaptive immune responses and activate all relevant immune cell types against primary tumors and metastases. Led by experienced biotech entrepreneurs and immunology pioneers, Abalos’ goal is to achieve a quantum leap in immuno-oncology. For more information, please visit www.abalos-tx.com.