InProTher Announces EUR 6M Seed Financing with the Participation of the European Innovation Council Fund to Develop First-In-Class Cancer Immunotherapy
Summary
The Company delivers the immunogen by using Adenoviral and RNA vectors.InProTher has generated robust pre-clinical, proof-of-concept data that demonstrates therapeutic potential for multiple oncology indications including pancreatic, ovarian, breast and prostate cancer. "Dr Sven Rohmann, newly appointed Chairman added: "I am thrilled to have joined the Board of Directors of InProTher at this time of company expansion. "Dr Patel has over 20 years of experience in the pharmaceutical industry with proven track record of leadership roles in clinical development, oncology and global commercialization, having previously held positions as Director of Drug Development, Oncology, at Johnson and Johnson, where she helped build a broad and differentiated portfolio of indications for the cancer drug VELCADE. InProTher will solve bottlenecks and unleash the full potential of immuno-oncology, not only in terms of cancer vaccines but also in further expanding the use of checkpoint inhibitors to multiple indications and patient populations.To date, InProTher has put in place a world-class scientific team and created an emerging product development pipeline, including a leading programme targeted to enter clinics in 2024.Initial investors in InProTher include the BioInnovation Institute (Novo Foundation), and Vaekstfonden (Denmark).The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance.The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.