Geneos Therapeutics Secures $5 Million in Series A3 Financing
NEWS PROVIDED BY
Apr 12, 2023, 08:00 ET
— Proceeds to Fund Expansion of Phase 1b/2a Trial of Personalized Therapeutic Cancer Vaccine in Liver Cancer —
— Financing adds 3B Future Health Fund to Investor Syndicate and Dr. Roberto DePonti as Board Observer —
PLYMOUTH MEETING, Pa., April 12, 2023 /PRNewswire/ — Geneos Therapeutics, a clinical stage biotherapeutics company focused on the development of personalized therapeutic cancer vaccines (PTCV), today announced that it has secured $5 million in its Series A3 round. This financing adds 3B Future Health Fund (3B FHF) to Geneos’ investor syndicate. Further, Dr. Roberto DePonti, managing director and general partner of 3B FHF, joins Geneos as a board observer, adding decades of pharmaceutical drug development experience to the company.
Proceeds Will Fund Expansion of Phase 1b/2a GT-30 Program
GT-30 is evaluating safety, immunogenicity, and efficacy of PTCV (GNOS-PV02 plus plasmid-encoded IL-12) administered in combination with the immune checkpoint inhibitor pembrolizumab, in patients with unresectable or metastatic hepatocellular carcinoma (HCC) who progress on, or are intolerant to, first line tyrosine kinase inhibitors (sorafenib or lenvatinib). The company previously reported data from the first 24 patients enrolled showing strong tumor reductions including three complete responses (complete disappearance of tumor), and four patients with a partial response. Based on these encouraging results, the study enrollment was expanded to 36 patients. Geneos plans to report the efficacy and durability of response data from the full cohort of 36 patients in 2023.
“We are excited to contribute to the development of Geneos’ advanced approach to treat, patients with HCC as well as multiple additional types of cancer in the future,” stated Riccardo Braglia, general partner of 3B Future Health Fund II. “We are encouraged by the very promising results in the current clinical trial and look forward to working closely with the talented Geneos team.”
“We are delighted to welcome Roberto and 3B FHF into our investor syndicate. We look forward to working with 3B FHF and their strong worldwide pharmaceutical development expertise and broad network in advancing our novel personalized therapeutic cancer vaccines,” stated Niranjan Sardesai, PhD., president and chief executive officer of Geneos Therapeutics.
About 3B Future Health Fund II
3B Future Health Fund II S.C.A. SICAV-RAIF is a Luxembourg based investment fund with a focus on investing in oncology and rare disease therapeutics in Europe and the United States. The firm’s goal is to identify innovative and promising companies that are developing First-in-Class therapeutics for indications with high unmet patient needs and provide them with the financial resources and strategic guidance they need to succeed. The fund’s investment strategy involves targeting companies with strong management teams, a solid scientific foundation, and a clear path to regulatory approval and commercialization. They seek to invest in early-stage companies with promising preclinical data. Additionally, the firm’s investment team has extensive experience in the pharma industry, a track record of success in drug development and identifying high-potential investments. 3B FHF is committed to creating value for its investors while also making a positive impact on the lives of patients. www.3bfuturehealth.com
About Geneos Therapeutics
Geneos Therapeutics, a privately held, clinical stage biotherapeutics company, believes that the company’s personalized therapeutic cancer vaccines (PTCVs) may serve an important role in new immunotherapeutic paradigms for cancer. The company’s approach, using its proprietary GT-EPIC™ platform, is to target neoantigens (abnormal mutations produced by cancer cells) from individual patient tumors to develop novel and uniquely personalized treatments for cancer. Encouraging clinical data from a Phase 1b/2a clinical trial in hepatocellular carcinoma has prompted planning for a potentially registrational clinical trial. Geneos’ experienced management team has a track record of success in building immunotherapy-based companies. For more information, please visit www.geneostx.com.
This press release contains certain forward-looking statements relating to our business, including our plans regarding the development of personalized therapeutic cancer vaccines, our expectations regarding our research and development programs, including the planned expansion and conduct of clinical trials and the availability and timing of data from those trials, and the use of our capital resources. Actual events or results may differ from the expectations set forth herein. There can be no assurance that any product candidate in Geneos’ pipeline will be successfully developed, manufactured or commercialized, that final results of clinical trials will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate. Forward-looking statements speak only as of the date of this release, and Geneos undertakes no obligation to update or revise these statements, except as may be required by law.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
SOURCE Geneos Therapeutics, Inc.
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