ImCheck Announces Investment by BB Pureos Bioventures to Close Series B Fundraising with Total of €54 million ($64 million)
ImCheck Announces Investment by BB Pureos Bioventures
to Close Series B Fundraising with Total of €54 million ($64 million)
Marseille, France, September 15, 2020 – ImCheck Therapeutics today announced that it has secured an additional €6 million ($7.1 million) from BB Pureos Bioventures (“Pureos”) in an extension of its Series B bringing the total raised in this round to €54 million in capital (approximately $64 million).
The newly added capital underscores the broad potential of ImCheck’s butyrophilin superfamily-focused pipeline and the progress the company has achieved in the ongoing EVICTION (NCT04243499) Phase I/IIa clinical trial for the company’s first-in-class gamma9 delta2 (?9?2) T cell-activating monoclonal antibody ICT01 (anti-butyrophilin 3A). In addition to supporting EVICTION, the funding will also accelerate the development of the company’s pre-clinical portfolio of antibody candidates in immuno-oncology, auto-immune and infectious disease indications.
The initial close of the Series B, announced in December 2019, included participation from a syndicate of leading US and EU-based life science investors including new investors Bpifrance, Pfizer Ventures, Wellington Partners, Agent Capital and Alexandria Venture Investments as well as from ImCheck’s Series A investors Boehringer Ingelheim Venture, Kurma Partners, Idinvest Partners, Life Sciences Partners and Gimv.
As part of the investment, Dr. Klaus Breiner of Pureos will become an observer to ImCheck’s Board of Directors. Separately, Boehringer Ingelheim Venture’s representative to the Board will transition from Dr. Detlev Mennerich to Dr. Philipp Mueller.
“We are impressed by ImCheck’s momentum over the last years and the company’s efforts to-date on designing and now executing an impressive first-in-human clinical program for evaluating ICT01 in cancer patients. I am excited to support the ImCheck leadership team as they translate great science into novel potential treatments,” added Klaus Breiner, PhD, Managing Partner at Pureos.
“We value the investment by Pureos, which provides us with additional financial and strategic flexibility. The capital we have raised to date validates the unique potential of ImCheck’s leadership position in developing antibodies targeting butyrophilins, a superfamily of targets with tremendous potential in immuno-oncology as well as other immune system related indications,” stated Pierre d’Epenoux, Chief Executive Officer. “I would like to thank Detlev for his years of support and we welcome Klaus and Philipp to our group of investors.”
About IMCHECK THERAPEUTICS
ImCheck Therapeutics is designing and developing a new generation of immunotherapy antibodies positioned at the crossroads of two high-potential immunological fields: g9d2 T cells and a novel super-family of immunomodulators, butyrophilins.
Due to their mechanism of action, and notably their ability to simultaneously modulate innate and adaptive immunity, ImCheck's “first-in-class” activating antibodies may be able to produce superior clinical results as compared to the first-generation of immune checkpoint inhibitors and when used in combination to overcome the resistance to this group of agents. In addition, preclinical experiments with ImCheck’s antagonist antibodies have demonstrated potential as treatments for a wide range of autoimmune diseases.
Co-founder of the Marseille Immunopole cluster, ImCheck benefits from support from Prof. Daniel Olive (INSERM, CNRS, Institut Paoli Calmettes, Aix-Marseille Université), a worldwide leader in gd T cells and butyrophilins research; from the experience of an expert management team; and from the commitment of leading US and European investors.
BB Pureos Bioventures (“Pureos”) is a newly formed venture capital fund, advised by Bellevue Asset Management. Pureos invests exclusively in private innovative drug development companies, with a special emphasis on the next generation of biological drugs and drug formats. The fund’s portfolio companies are built on scientific excellence to develop therapies across a broad indication spectrum including oncology, immunology, ophthalmology, rare diseases and neuroscience. With its dedicated and experienced team of venture capitalists, biotech entrepreneurs and drug developers, Pureos strives to impact patients’ lives by advancing innovative treatments for severe diseases.
For more information visit www.pureosbio.com
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