NeoPhore completes $21 m series B funding round

The syndicate was led by Claris Ventures and included 2Invest, 3B Future Health Fund and Astellas Venture Management alongside founding investor the CRT Pioneer Fund

NeoPhore, a small molecule neoantigen immuno-oncology company, has announced the close of a $21 m series B round.

The company is focused on discovery and development of novel small molecule drugs targeting the DNA mismatch repair (MMR) pathway to treat cancer. NeoPhore will work with its founder, Dr Alberto Bardelli from the University of Turin, and Dr Luis Diaz (Memorial Sloan Kettering and SAB member) to explore the concept that inhibition of MMR in tumours generates neoantigens that the patients’ own immune system can target with an anti-tumour response. The financing will be used to advance the company’s drug discovery pipeline.

Dr Robert James, Chairman of NeoPhore, said: “We welcome the new investors to NeoPhore. The recent emergence of novel immunotherapy treatments highlights that the patients’ immune system can both detect and fight cancer. However, long-lived and effective cancer immunity relies strongly on the presence of cancer neoantigens. NeoPhore is discovering drugs that create neoantigens and this financing will enable NeoPhore to cement its leading position in MMR drug discovery.”

Dr Matthew Baker, CEO of NeoPhore, added: “This financing validates NeoPhore’s novel and highly differentiated approach. Our programmes comprise novel first-in-class inhibitors and modulators that target the MMR pathway. These drugs are designed to work in concert with existing immunotherapies to stimulate immunity directly at cancer's core, effectively forcing cancer cells to reveal themselves to the patients’ immune system. We anticipate a huge patient benefit in the level and durability of anti-cancer responses in a wide range of indications.”

Pietro Puglisi, Managing Partner at Claris Ventures, said: “We have been impressed by the excellent work achieved by the NeoPhore team and we are excited to be part of such an experienced and engaged investor syndicate. We see tremendous potential to generate first-in-class next-generation immuno-oncology therapeutics to improve clinical outcomes for solid tumour cancer patients.”

In conjunction with the Series B financing, Pietro Puglisi from Claris Ventures, Heikki Lanckriet from 2Invest and Marianne Bjordal from 3B Future Health Fund, will join the board of NeoPhore as Directors.

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