6 Dimensions Capital, the investment firm co-founded by pharmaceutical company WuXi AppTec, will have a chance to exit US-based immuno-oncology drug developer iTeos Therapeutics, which filed for a $100m initial public offering on Wednesday.
Founded in 2011, iTeos is working on cancer immunotherapies and plans to channel the IPO proceeds into the clinical development of a small molecule drug candidate called EOS-850 and an antibody-based candidate dubbed EOS-448.
Université catholique de Louvain’s Vives Louvain Technology Fund joined Ludwig Institute for Cancer Research, Hunza Ventures and Life Sciences Research Partners to invest $4m in iTeos in 2012.
The former returned for a $74m series B round in mid-2018 that was led by MPM Capital and also backed by 6 Dimensions, UBS Oncology Impact Fund, SRIW, HBM Partners, Curative Ventures, SFPI-FPIM and Fund+.
The company closed a $125m series B2 round in April this year that was co-led by RA Capital Management and Boxer Capital and which included 6 Dimensions, MPM Capital, UBS Oncology Impact Fund, HBM Partners, Curative Ventures, Fund+, SRIW, SFPI, Vives Louvain Technology Fund, Janus Henderson Investors, RTW Investments and Invus.
MPM Capital is the largest investor in iTeos, holding a 15.1% stake, followed by RA Capital and Boxer Capital (13.4% each), UBS Oncology Impact Fund (9.4%), funds advised by Janus Henderson Investors (6.8%) and Fund+ (6.3%).
JP Morgan Securities, SVB Leerink, Piper Sandler and Wedbush Securities are the underwriters for the offering, which will take place on the Nasdaq Global Market.
