iTeos Therapeutics, a US-based immuno-oncology drug spinout of Université catholique de Louvain (UCL) and Ludwig Institute for Cancer Research, raised more than $201m in a listing on Friday.
The company priced its shares at $19, above its previous target of $18, and upped the number of shares by approximately 350,000 to 10.58 million. It has listed on the Nasdaq Global Market using the ticker symbol ITOS.
Founded in 2011, iTeos is developing immunotherapies aimed at a wide range of cancer indications.
The spinout will use between $100m and $120m to move its lead asset, EOS-850, through a phase 1/2a clinical trial involving patients suffering from advanced solid tumours and to initiate phase 2 trials.
Another $70m to $90m has been allocated to the phase 1/2a clinical trials for an antibody-based candidate called EOS-448. The company will also put $50m to $70m into pipeline development and drug discovery programs.
UCL’s Vives Louvain Technology Fund and Ludwig Institute for Cancer Research backed a $4m funding round in 2012 together with Hunza Ventures and Life Sciences Research Partners.
Vives Louvain Technology Fund returned for a $74m series B round in mid-2018 that was led by MPM Capital and included 6 Dimensions Capital – the investment firm co-founded by pharmaceutical company WuXi AppTec as well as UBS Oncology Impact Fund, SRIW, HBM Partners, Curative Ventures, SFPI-FPIM and Fund+.
RA Capital Management and Boxer Capital co-led a $125m series B2 round in April 2020 that featured 6 Dimensions, Vives Louvain Technology Fund, MPM Capital, UBS Oncology Impact Fund, HBM Partners, Curative Ventures, Fund+, SRIW, SFPI, Janus Henderson Investors, RTW Investments and Invus.
The company’s largest shareholders are MPM Capital (11.2% post-IPO), RA Capital and Boxer Capital ($9.4% each), UBS Oncology Impact Fund (6.9%), funds advised by Janus Henderson Investors (4.8%) and Fund+ (4.5%).
JP Morgan, SVB Leerink and Piper Sandler are the joint book-running managers for the offering, while Wedbush PacGrow is a lead manager. They have a 30-day option to acquire up to an additional 1.58 million shares.
– A version of this article first appeared on our sister site, Global Corporate Venturing.

US-based immuno-oncology drug developer iTeos Therapeutics raised more than $201m in a listing on Friday that offered an exit to 6 Dimensions Capital, the investment firm co-founded by pharmaceutical company WuXi AppTec.

The company priced its shares at $19, above its previous target of $18, and upped the number of shares by approximately 350,000 to 10.58 million. It has listed on the Nasdaq Global Market using the ticker symbol ITOS.

Spun out of Université catholique de Louvain (UCL) and Ludwig Institute for Cancer Research in 2011, iTeos is developing immunotherapies aimed at a wide range of cancer indications.

The spinout will use between $100m and $120m to move its lead asset, EOS-850, through a phase 1/2a clinical trial involving patients suffering from advanced solid tumours and to initiate phase 2 trials.

Another $70m to $90m has been allocated to the phase 1/2a clinical trials for an antibody-based candidate called EOS-448. The company will also put $50m to $70m into pipeline development and drug discovery programs.

UCL’s Vives Louvain Technology Fund and Ludwig Institute for Cancer Research backed a $4m funding round in 2012 together with Hunza Ventures and Life Sciences Research Partners.

Vives Louvain Technology Fund returned for a $74m series B round in mid-2018 that was led by MPM Capital and included 6 Dimensions, UBS Oncology Impact Fund, SRIW, HBM Partners, Curative Ventures, SFPI-FPIM and Fund+.

RA Capital Management and Boxer Capital co-led a $125m series B2 round in April 2020 that featured 6 Dimensions, Vives Louvain Technology Fund, MPM Capital, UBS Oncology Impact Fund, HBM Partners, Curative Ventures, Fund+, SRIW, SFPI, Janus Henderson Investors, RTW Investments and Invus.

The company’s largest shareholders are MPM Capital (11.2% post-IPO), RA Capital and Boxer Capital ($9.4% each), UBS Oncology Impact Fund (6.9%), funds advised by Janus Henderson Investors (4.8%) and Fund+ (4.5%).

JP Morgan, SVB Leerink and Piper Sandler are the joint book-running managers for the offering, while Wedbush PacGrow is a lead manager. They have a 30-day option to acquire up to an additional 1.58 million shares.