Four months after the FDA advised it against filing for approval of its lead melanoma vaccine, IO Biotech is preparing for further restructuring. The Copenhagen-based biotech said yesterday that it is exploring strategic alternatives, including a merger, asset sale, business combination, or potential liquidation, and warned that it may need to implement additional workforce reductions and cost-cutting measures as the process unfolds.
Infinitopes, a U.K. cancer vaccine biotech spun out of Cancer Research U.K. and the University of Oxford, has expanded its seed round to $35.1 million after a second close that added about $15.4 million to existing commitments. The financing was co-led by Octopus Ventures and new investor Amplify Bio. The company says the funds will support its upcoming first-in-human phase 1/2a VISTA trial of its lead therapeutic vaccine, ITOP1, aimed at reducing post-surgical recurrence in oesophageal cancer.
Cytovation ASA has baged US$6m to advance Phase II development of its bi-specific pore-forming peptide candidate CY-101 in patients with adrenocortical carcinoma.
Swedish personalised immunotherapy specialist Neogap Therapeutics AB has acquired the remaining shares of its subsidiary, TCER Oncology AB through two new shareholders.
Cytovation ASA