iTeos tees up $125m series B2

iTeos Therapeutics, a US-based immuno-oncology drug spinout of Université catholique de Louvain (UCL) and Ludwig Institute for Cancer Research, completed a $125m series B2 round on Wednesday featuring UCL’s Vives Louvain Technology Fund.
RA Capital Management and Boxer Capital co-led the round, which was also backed by 6 Dimensions Capital, the biotech investment firm co-founded by a subsidiary of pharmaceutical company WuXi AppTec.
Janus Henderson Investors, RTW Investments, Invus, MPM Capital, HBM Partners, Curative Ventures, Fund+, SRIW and SFPI filled out the round.
Founded in 2011, iTeos is developing immunotherapies to treat cancer and will put the funding into advancing its two lead drug candidates: EOS-850, which is currently in a phase 1/2 clinical trial, and EOS-448, which has just begun its own phase 1/2 trial.
MPM Capital led a $74m series B round for iTeos in mid-2018, investing together with Vives Louvain Technology Fund, 6 Dimensions Capital, SRIW, HBM Partners, S Curative Ventures, FPI-FPIM and Fund+.
The spinout had previously received $4m in funding from Vives Louvain Technology Fund, Ludwig Institute for Cancer Research, Hunza Ventures and Life Sciences Research Partners in 2012.
Michel Detheux, president and CEO of iTeos, said: “We are very pleased to have the strong support of this leading class of investors who share our excitement for the highly innovative oncology therapies we have developed at iTeos.
“We look forward to accelerating and expanding our clinical development efforts to identify the most promising indications and combinations for people suffering with cancer. This financing maximises our ability to execute our development plans alone or in partnership.”
RA Capital Management principal Derek DiRocco and Aaron Davis, co-founder and CEO of Boxer Capital, are taking non-executive board positions at the company in conjunction with the round.
– A version of this article first appeared on our sister site, Global Corporate Venturing.