Germany-based oncology therapy developer iOmx Therapeutics received €65m ($75.5m) in series B funding on Tuesday from investors including M Ventures, a corporate venturing arm of pharmaceutical firm Merck Group.
The Strüngmann family office, Athos Service, co-led the round with investment management firm MIG Capital and it included Sofinnova Partners and Wellington Partners.
Founded in 2016, iOmx is developing immunotherapy drugs that target cancer tumour-associated immune-checkpoint molecules through the company’s target discovery platform, iOTarg.
M Ventures – then known as Merck Ventures – had already taken part in iOmx’s $45m series A round in 2016. It was co-led by MPM Capital and Sofinnova Partners and also backed by Wellington Partners.
Apollon Papadimitriou, CEO of iOmx, said: “It gives us great confidence to have the support of such an experienced group of investors, encouraging our work to advance immuno-oncology science with a focus on our lead programme IMT-07 to enter the clinic in late 2022. We are excited about transforming iOmx into a clinical-stage company.”
