Neophore was launched by University of Cambridge biopharmaceutical developer PhoreMost in May 2017 to home in on potential immunotherapies for cancer.
Neophore, a UK-based oncological offshoot of biopharmaceutical developer and University of Cambridge spinout PhoreMost, has raised £3m ($3.9m) in capital from CRT Pioneer Fund, an oncology-focused investment fund managed by Sixth Element Capital.
CRT Pioneer Fund is a partnership between the EU-owned European Investment Fund and Cancer Research Technology, the commercialisation arm of charity Cancer Research UK.
Founded in May 2017, Neophore is developing small molecule-based cancer treatments that aim to stimulate the production of neoantigens created as a byproduct of DNA mutations that lead to the formation of tumours.
Cancer neoantigens are thought to be capable of exploiting weaknesses in tumour cells, aiding the immune system in destroying them. Neophore’s approach works to force their creation by disrupting DNA repair mechanisms.
The company hopes its drugs will enhance cancer immunity in patients with unresponsive tumours and improve outcomes for those already eligible for immuno-oncology treatments.
Neophore will put the cash towards the development of discoveries made by PhoreMost and its partners. The company believes its approach is validated by cellular models and genetic evidence from patients.
PhoreMost owns a phenotypic mining platform that uncovers potential drug targets for diseases previously thought untreatable. It was founded by Ashok Venkitaraman, Ursula Zoellner professor of cancer research at Cambridge’s Department of Oncology and joint-director of the Cambridge Molecular Therapeutics Programme.
PhoreMost obtained $3.8m in a 2015 seed round backed by Cambridge Enterprise, the university’s tech transfer office, as well as Amadeus Capital Partners, PhoreMost CEO Chris Torrance and assorted angel investors.
