Copenhagen-based biotech startup InProTher has successfully raised €6 million in its seed round of funding. The investment comes from private investors and the European Innovation Council (EIC) Fund. InProTher aims to revolutionize the field of immuno-oncology by overcoming the limitations of cancer vaccines and developing a groundbreaking form of immunotherapy that specifically targets Human Endogenous Retroviruses (HERVs). The funding secured in this round will provide crucial financial support for the development of InProTher’s innovative cancer immunotherapy, known as IPT001, and facilitate the transition to clinical trials, marking a significant milestone in the company’s journey.
To support its growth, InProTher has made strategic appointments. Dr. Hamina Patel, MD, joins as the Chief Medical Officer, bringing her extensive medical knowledge to the team. Dr. Sven Rohmann, MD, PhD, MBA, assumes the role of Chairman of the Board of Directors, leveraging his expertise in both medical and business fields. These appointments are expected to steer InProTher in the right direction as it continues to make strides in the biotech industry.
Headquartered in Copenhagen, Denmark, InProTher aims to be at the forefront of developing novel immunotherapies that target HERVs as tumor-specific antigens. The company not only aims to address the limitations of cancer vaccines but also expand the application of checkpoint inhibitors to multiple indications and patient populations. With a world-class scientific team and a robust product development pipeline, InProTher is well-positioned to achieve its goals. In fact, one of its leading programs is set to enter clinical trials as early as 2024. The future looks promising for InProTher as it pioneers advancements in immuno-oncology and secures notable support from investors.
Jordi Naval, Chief Executive Officer of InProTher said: “InProTher is shifting the paradigm in cancer immunotherapy and is at an exciting phase of growth. Our aim is tounlock the full potential of immunotherapy in cancer. We believe InProTher can solve the limitations of current cancer vaccines, as our pre-clinical data has shown that our immunotherapy induces higher tumor control, survival rate and tumor efficacy, compared toother competing approaches. I am very pleased to welcome Sven and Hamina to InProTher. Their expertise and track record of success will be invaluable as we accelerate the development of our lead candidate into clinical development.”
Hermann Hauser, the EIC Fund Board member commented: “The EIC Fund has established itself as a strong force in EU deep-tech investments. This unique form of financing via EIC combining grants and equity – is proving itself highly attractive to Europe’s most promising start-ups.”
Dr Sven Rohmann, newly appointed Chairman added: “I am thrilled to have joined the Board of Directors of InProTher at this time of company expansion. The Company is working on cutting-edge technology at the forefront of cancer immunotherapies and I look forward to taking this technology into clinics.”
