NeoPhore, a biotech company active in the development of small molecules in the field of immuno-oncology, announces that Bristol Myers Squibb has joined the extension of the Series B investment round which has a total value of 35 million British pounds.
The additional funding from BMS will enable NeoPhore to further explore the biology behind DNA mismatch repair (‘MMR’) in cancer, as well as further advance preclinical studies and identify a drug candidate in 2025.
NeoPhore focuses on building a pipeline of small molecules that inhibit MMR pathway proteins to generate next-generation immuno-oncology therapies and contribute to the improvement of current cancer care. NeoPhore drugs induce the expression of neoantigens and increase the immunogenicity of solid tumors, thereby making them sensitive to immunotherapy.
Robert James, chairman of NeoPhore, said in a statement: “Bristol Myers Squibb’s entry validates NeoPhore’s innovative approach that aims to inhibit the MMR pathway with small molecules for cancer treatment. In light of NeoPhore’s achievements in 2023, we look forward to seeing a year of progress for the company’s preclinical programs.”
The Series B round and its extension saw the participation of numerous Italian investors, including the biotech fund Claris Ventures, Neva, Liftt, private investors belonging to the Club degli Investitori network and Italian Angels for Growth and Simon Fiduciaria of the Ersel Group. (image from NeoPhore’s website)
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