After finalizing fundraising for 10.3 M€ in April and consolidating its scientific team, the Montpellier-based biotech company has just confirmed additional funding of 2.5 M€.
10.3 M€ raised in April 2020The additional funding comes on top of 10.3 M€ in funds raised in April from the American-Japanese investment fund Remiges Venture, with the Japanese fund Anri and the French regional fund Irdi Soridec Gestion. The goal of this major operation for Phost’In Therapeutics was to fund the final regulatory steps for preclinical testing and launch clinical trials of the anti-cancer molecule developed by the company.
Reinforcing the scientific teamAt the same time, the biotech company reinforced its scientific team by hiring Professor Bernard Pau, one of France’s pioneers in technology transfers, an honorary professor at University of Montpellier and former director of the Life Sciences Department at CNRS. Responsible for managing Phost’In operations, Prof. Pau was joined at the head of the company’s Medical Department by Dr. Alain Herrera, who supervised the Oncology Division at Sanofi for ten years.
Assisted by Montpellier BICPhost’In Therapeutics is assisted by Montpellier BIC and SATT AxLR. The company develops highly promising technology for treating invasive types of cancer such as brain tumors, triple-negative breast cancer, and even metastatic solid tumors. More specifically, Phost’In anti-cancer compounds target the aberrant glycosylation in tumors, a mechanism responsible for suppressing immune response. The compounds reveal cancer cells, enabling the immune system to fight more effectively.
Respecting its planned timelineHosted at the National Higher School of Chemistry in Montpellier , Phost’In continues to respect its planned timeline. Clinical trials in cooperation with the Montpellier Cancer Institute (ICM) will be launched in 2021 on about 100 patients with invasive solid tumors.
“Our goal is to establish a European champion in glyco-immuno-oncology,” highlights Karine Chorro.