- Significant round will enable the Company to advance ICT01, its lead anti-butyrophilin 3A antibody, towards Phase IIb completion, establishing clinical efficacy and proof-of-concept in treating solid tumors and hematologic malignancies
- Series C brings on board top-tier global venture funds Earlybird, Andera Partners and Invus and patient organization the Leukemia and Lymphoma Society to prestigious syndicate
ImCheck Therapeutics announced today the close of a EUR 96 million (USD 103 million) financing, co-led by Earlybird and Andera Partners. The Series C round (EUR 80 Million – USD 86 Million) and the last outstanding tranche of Series B converted in Series C shares (EUR 16 Million – USD 17.2 Million) solidifies ImCheck’s financial position and leadership in the gamma-delta T cell space. Invus and the Leukemia and Lymphoma Society also joined the round as new investors. Existing investors including the Growth Opportunity Fund of founding investor Kurma Partners, Eurazeo, Gimv, Pfizer Ventures, Bpifrance, Wellington Partners, Pureos Bioventures, Agent Capital and Alexandria Venture Investments participated.
The proceeds will be used to support the Phase IIa expansion and completion of the randomized, double-blind, placebo-controlled part of the ongoing EVICTION clinical trial evaluating ImCheck’s lead candidate ICT01 as a both monotherapy and in combination with a PD-1 inhibitor for a broad range of cancers including solid tumors and hematologic malignancies. The Company also will apply the capital to investigate ICT01 in combination with other therapeutic agents, including IL-2, in the forthcoming EVICTION-2 clinical trial. The funding will accelerate the further advance toward the clinic of additional antibody candidates in immuno-oncology, auto-immune and infectious diseases. In addition, it will allow the Company to achieve pivotal study readiness for ICT01 and expand its footprint through extended clinical operations and regulatory affairs in Europe and the US.
“Since its inception, ImCheck has gained the support of a syndicate of outstanding international funds. In a highly challenging funding market, we have secured a significant fundraising through the addition of highly strategic and valuable investors from the U.S. and Europe, putting us in a position to further deliver on the immense promise of our pipeline,” stated Pierre d’Epenoux, Chief Executive Officer of ImCheck Therapeutics. “We view our singular proprietary position with butyrophilins, which offer powerful immunomodulation of both the innate and adaptive immune systems, as the key to therapeutic intervention for many disease indications and we value the support we are now gaining from the Leukemia and Lymphoma Society as a first investment from a patient-focused organization.”
In conjunction with the financing round, Florent Gros (Earlybird) and Raphaël Wisniewski (Andera Partners) will join the Company’s Board of Directors.
Florent Gros, Partner at Earlybird, commented, “ImCheck’s approach to immuno-oncology is highly differentiated through the clinical demonstration of gamma-delta T cell activation, an area of immunology that has huge potential and interest from the biopharmaceutical community. At Earlybird, we support companies that dare to think differently and ImCheck’s innovative concept for immunomodulation could be a game-changer for a range of indications.”
Raphaël Wisniewski, Partner at Andera Partners, said, “Immune checkpoint inhibitors have heralded a new era in cancer treatments and ImCheck Therapeutics is pioneering the next generation of these immunotherapeutics. In watching their progress to date, we have seen the leadership team execute on a compelling vision for a butyrophilin-based therapeutic approach from the early development stage into a highly valuable clinical development program. We at Andera Partners are confident the company will move its groundbreaking technology forward to meet patients’ needs in a range of cancer indications with wider potential for auto-immune and infectious diseases.”
ImCheck Therapeutics’ immunotherapeutic technology is capable of overcoming the adaptive antitumor immune response through a novel superfamily of immune checkpoint targets, butyrophilins (BTNs). BTNs can be modulated to harness a wide range of immune cells including gamma-delta T cells, CD3, CD8, NK cells and macrophages, bridging the innate and adaptive immune responses. The company’s broad pipeline is built upon immunomodulation via BTN-targeting antibodies aimed either at activating the immune system in disease indications such as cancer or infectious diseases, or down-regulating immunity in auto-immune disorders.
Hans Henrik Christensen, Chief Financial Officer of ImCheck Therapeutics, added, “ImCheck has now raised a total of EUR 154 million and is in an excellent position to build on our initial promising results in the clinic with our lead candidate, ICT01, and continue to lead the field of antibody therapies activating gamma-delta T cells.”