STRASBOURG, France--(BUSINESS WIRE)--Odimma Therapeutics, a biotechnology company specialized in personalized cancer immunotherapy announces a seed fundraising of €2 million in order to secure the preparation on its First-in-Man clinical trial with ODI-2001, an innovative first-in-class personalized immunotherapy against cancer.
This financing round is supported by Capital Grand Est, Alsace Business Angels, Angels Santé, historical founders and associates, several new Business Angels and BpiFrance.
In recent months, Odimma Therapeutics has completed the proof of activity experiments of its lead product ODI-2001 in several hard-to-treat preclinical cancer models. In parallel, the company has secured the pharmaceutical process for the production of ODI-2001. This relies on pharmaceutical partnerships with world-class players in the field as earlier communicated: myNEO (Ghent, Belgium) for neoepitope prediction by artificial intelligence, Touchlight Genetics (Hampton, UK) for the production of synthetic DNA and ABL Europe (Illkirch, France) for the production of the viral component of ODI-2001.
The current activities are focused on the preparation of the Phase I clinical trial in patients with advanced solid tumors. These activities include regulatory interactions, toxicology and clinical operations. R&D activities are strengthened to continue generating additional data and intellectual property.
Jean-Sébastien Schmitt, representative of Alsace Business Angels said: “Fighting cancer with a technological disruption which is personalized, more efficient and quickly available for the patient was very attractive for our members. We are delighted to support Odimma’s team in their ambition and, as a first step, provide them with the best conditions for their clinical trial.”
“We are delighted about the success of this new refinancing round, and are very pleased to contribute to the development of this promising technology. We are confident the innovative personalized immunotherapy platform developed by Odimma Therapeutics will give the best chances of success to immunotherapy in oncology,” said Patrick Squiban M.D. member and ambassador, Angels Santé Business Angels Network.
Jean-Marc Limacher, M.D., Chairman of the company said: “The renewed support of historical shareholders and the engagement of new investors is a mark of trust which acknowledges the advancements made by the company and its collaborators. This new investment will allow Odimma Therapeutics to bring ODI-2001, in the clinical stage of its development.”
In relation with the preparation of its first clinical trial the company is actively working on the next financing round.