Peptomyc, a biotech company specialized in the development of protein and peptide therapeutics for cancer treatment, has just announced the completion of an equity financing round of EUR 11.4 million. The company is focused on the development of a new generation of cell penetrating peptides (CPPs) targeting the Myc oncoprotein for cancer treatment.
Peptomyc is relying on a strong syndicate of life sciences investors. This investment was led by AurorA Science and substantially supported by existing investors including Alta Life Sciences, HealthEquity, Business Angels and the CDTI. Also, Peptomyc’s employees had the opportunity to invest in the company.
This financing will enable Peptomyc to advance OMO103 until preliminary results of phase I clinical trial. OMO103 has already demonstrated its safety and anti-tumor activity in multiple types of experimental models of cancer and it is now ready to be tested in clinical studies. The treatment of the first patient with the lead candidate, OMO103, is expected to start in Q1, 2021.
“We are delighted to have attracted such high-profile investors to our company,” said Laura Soucek, CEO of Peptomyc. “I am confident that their industrial background and extensive experience in bio-pharma and translational medicine will significantly contribute to the success of our product.”
“We were excited to have the opportunity to participate in this financing” said Guido Guidi, chairman of AurorA Science. “Peptomyc is a promising company matching our industrial criteria, following a rigorous selection process managed by AurorA Science’s three partners, AurorA-TT, Rottapharm Biotech and Italfarmaco. We are glad to support a company with front edge science and outstanding potential to bring benefits to patients.”