iTeos Therapeutics Awarded €15 Million in Non-Dilutive Funding by the Walloon Region
Funds will be used to progress iTeos’ two highly innovative clinical-stage oncology programs: a best-in class A2A receptor antagonist and an ADCC-enabled anti-TIGIT antibody drug candidate
Gosselies, Belgium and Cambridge, MA – January 30, 2020 – iTeos Therapeutics SA, a privately-held biotechnology company developing innovative cancer immunotherapies, today announced that it has been awarded a total of €15 million in non-dilutive funding to support the clinical development of its two proprietary anti-cancer drug programs, targeting key mechanisms of immunosuppression that are gaining prominence within industry development pipelines. The funding has been approved on behalf of the Walloon Region by Willy Borsus, Minister of Economy and Research.
Funding of €11.5 million has been awarded to progress iTeos’ lead candidate EOS-850, a best-in-class adenosine A2A receptor antagonist, and will be used to support the ongoing phase 1b/2a clinical trial, underway at four sites across Europe, and will soon expand to clinical sites in the United States. A second award of €3.5 million will support the Phase 1 clinical trial of iTeos’ fully-human ADCC-enabled anti-TIGIT antibody (EOS-448), which is expected to start in Belgium in February 2020.
Michel Detheux, Ph.D., Chief Executive Officer of iTeos, commented, “We are grateful to the Walloon Region for its continued support of iTeos Therapeutics. This investment is invaluable as we seek to progress our two clinical programs. During the last three years, iTeos has developed a comprehensive portfolio of immuno-oncology drug candidates, and these additional Walloon region funds will help us evaluate the performance of our promising lead programs in the clinic.”
About iTeos Therapeutics
iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to transforming the lives of persons living with cancer by designing and developing next generation immunotherapies. The Company is targeting two key resistance pathways to checkpoint therapy: adenosine and regulatory T cells (Tregs). The Company’s lead program, EOS-850, is an adenosine A2A receptor antagonist currently in a Phase 1/1b study. A second program, a fully human ADCC-enabled anti-TIGIT antibody (EOS-448), is expected to enter the clinic in first quarter of 2020. iTeos Therapeutics is headquartered in Cambridge, MA with a world-class research center in Gosselies, Belgium. The Company was founded by the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute (Université Catholique de Louvain). In 2018, the Company completed a $75 million (€64 million) Series B financing led by MPM Capital, along with new investors HBM Partners, 6 Dimensions Capital and Curative Ventures. Earlier investors, including Fund +, VIVES II and SRIW, as well as SFPI, also participated in this funding round. For more information, please visit www.iteostherapeutics.com.
For further information, please contact:
Michel Detheux, CEO
iTeos Therapeutics
info@iteostherapeutics.com
Amber Fennell, Catherine Day, Matthew Neal and Sukaina Virji
Consilium Strategic Communications
+44 203 709 5700
iteos@consilium-comms.com
Sarah McCabe
Stern Investor Relations, Inc.
+1 212 362 1200
sarah.mccabe@sternir.com