Carving Out New Spaces In Cancer Immunotherapy
An Interview With iTeos Therapeutics co-founder, president and CEO Michel Detheux
With a combined $335m raised in a crossover series B funding and an IPO last summer, Cambridge, MA-based iTeos Therapeutics has the juice to move its two cancer immunotherapy clinical programs forward.
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The Belgian biotech has managed to attract considerable sums from venture capitalists over the past couple of years amid hopes that its two next-generation immunotherapies will be best-in-class agents.
An oversubscribed financing round led by new US investor MPM Capital has brought in $75m for the Belgian company. Much of it will be used to advance its potential best-in-class adenosine A2A receptor now that its IDO1 drug has been shelved.
Despite the COVID-19 chaos felt by many industries in 2020, biopharma IPOs recorded a banner year – including a marked rise in the use of special purpose acquisition companies (SPACs), also known as blank check companies.