Netherlands-based immuno-oncology treatment developer Lava Therapeutics has raised €16m ($18.6m) in funding from investors including MRL Ventures Fund, a subsidiary of pharmaceutical firm Merck & Co’s Merck Research Laboratories division.
Gilde Healthcare and Versant Ventures co-led the round, which also featured Lava’s founder investors, fellow investment firms Lupus Ventures and Biox Biosciences. Lava described the round as its first major institutional financing.
Founded in 2016, Lava is working on cancer treatments based on developing bispecific antibodies intended to activate certain T cells in order to trigger the body’s immune system.
The company’s technology is based on research led by its chief science officer, Hans van der Vliet, who led a team in the Department of Medical Oncology at VU University Medical Center in Amsterdam.