Merck Group spinoff iOnctura will put the $18.7m it raised in the M Ventures-backed round into a clinical trial for its solid tumour therapy.
Netherlands-based molecular drug developer iOnctura has completed a €17m ($18.7m) series A round featuring M Ventures, the corporate venturing arm of pharmaceutical firm Merck Group.
Venture capital firms Inkef Capital and VI Partners co-led the round, which included asset management firm Schroder Adveq.
Spun off from founding investor Merck in 2017, iOnctura is working on therapies for fibrosis and cancer, and will use the series A funding to advance lead molecule IOA-244 into a phase 1 clinical trial for solid…
