The Life Sciences team advised iTeos Therapeutics Inc. on the closing of its oversubscribed Series B2 financing, which raised a total of $125 million. The financing round was co-led by RA Capital Management and Boxer Capital, and included new investors Janus Henderson Investors, RTW Investments and Invus along with existing investors MPM Capital, HBM Partners, 6 Dimensions Capital, Curative Ventures, Fund+, VIVES Louvain Technology Fund, SRIW, and SFPI.
Proceeds from the financing will support the iTeos’s continued growth and advance the clinical development of its two lead product candidates, EOS-850, a best-in-class adenosine A2A receptor antagonist and EOS-448, an ADCC-enabled anti-TIGIT antibody. EOS-850 is currently being evaluated in a Phase 1/2 clinical trial both as a single agent and in combination in several solid tumor indications. The company plans to initiate dosing for the combination cohorts for this trial in the second quarter of 2020. iTeos also recently initiated the Phase 1 portion of a Phase 1/2 clinical study of EOS-448, currently being evaluated in patients with solid tumors and hematological malignancies. Proceeds from this financing will also support the advancement of additional first-in-class preclinical programs targeting the adenosine pathway and Tregs.
iTeos, headquartered in Cambridge, MA with a world-class research center in Gosselies, Belgium, is a privately-held, clinical-stage biopharmaceutical company dedicated to transforming the lives of persons living with cancer by designing and developing next generation immunotherapies.
For additional details on the closing, please read the press release.