Switzerland-based oncology therapy developer iOnctura today secured a €5.1m ($5.8m) second series A tranche from 3B Future Health Fund, pharmaceutical firm Helsinn’s corporate venturing unit formerly called Helsinn Investment Fund.
Pharmaceutical firm Merck Group’s investment unit M Ventures also participated in the extension, as did fellow existing backers Inkef Capital, Schroder Adveq and VI Partners, which lifted the series A funding to $24.5m.
Merck founded iOnctura in 2017 and provided an undisclosed amount of seed funding through M Ventures (then Merck Ventures). The company is developing fibrosis and cancer drugs and the latest cash will be used to improve its dual immunotherapy and tumour-targeting therapeutics.
M Ventures had also backed iOnctura’s $18.7m series A first close in January 2020, which was co-led by Inkef Capital and VI Partners, and featured Schroder Adveq.
Riccardo Braglia, 3B Future Health Fund’s chairman and Helsinn’s vice-chairman and CEO, said: “We look to invest in early-stage companies which are developing novel treatments in areas of high unmet patient need.
“We have been very impressed with the world-class team at iOnctura and the potential of its next-generation molecules targeting cancer and fibrosis.”
