iOnctura BV has secured €80 million ($85.5 million) in a new round of financing, which the Swiss-Dutch biopharmaceutical company will use to further develop two anti-cancer drugs.
iOnctura Raises €80M For Cancer Drug Work : Major Investors Lead the Round
On Thursday, iOnctura announced that the funding round was led by life sciences investor Syncona Ltd., which invested €30 million for a 23% stake in the company. Syncona stated that no shareholder approval was needed for the investment.
The EIC Fund, the venture capital fund owned by the European Commission, is another new investor in iOnctura.
Existing investors, including European VC firms M Ventures, Inkef Capital, VI Partners, and 3B Future Health Fund, also participated in the financing round. However, the details of their investments were not disclosed.
Schroders Capital Global Innovation Trust PLC, the multinational asset manager, announced separately that it has invested £1.4 million ($1.8 million) in the latest funding round.
Promising Developments in Cancer Treatment
Roel Bulthuis, managing partner and head of investments at Syncona, expressed enthusiasm about investing in iOnctura due to its promising product pipeline.
