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Allen & Overy advises cancer immunotherapies pioneer iOmx Therapeutics on 65 million Euro Series B financing round

Allen & Overy has advised iOmx Therapeutics AG (iOmx), a biopharmaceutical company developing cancer therapeutics based on next generation immune checkpoint targets, on a Series B financing round totalling 65 million Euro. The financing was co-led by top-tier life science venture capitalists Athos Service GmbH – the Strüngmann family office – and MIG Capital AG, with participation from existing investors Wellington Partners, Sofinnova Partners and M Ventures.

The new funds will be invested to advance the company’s lead program IMT-07, a SIK3 kinase inhibitor to treat solid tumors, through the first-in-man clinical trial, and to further develop IMT-18, a first-in-class IGSF11-targeting antibody to treat PD-1/PD-L1-resistant tumors. In addition, iOmx will continue to leverage its target discovery platform, iOTarg, to advance additional novel immune checkpoint programs to lead candidate stage.

iOmx Therapeutics, located in Martinsried/Munich, Germany, is focused on developing first-in-class cancer immunotherapies addressing novel immune checkpoints hijacked by cancer cells. Utilizing its iOTarg™ high-throughput screening platform, iOmx has identified a number of proprietary tumor-associated next-generation immune checkpoints and is advancing a preclinical stage pipeline of promising drug candidates that have the potential to address cancers that are resistant to current immunotherapies.

The Allen & Overy team was led by partner Dr Alexander Veith and comprised counsel Dr Jens Wagner (both Munich) and Dr Andre Wandt (Frankfurt) as well as associates Michael Haase and Linda Mayer (all Corporate/M&A, both Munich).