TILT Biotherapeutics Announces Closing of USD 25 Million Series B Financing
Summary
HELSINKI, May 13, 2025 (GLOBE NEWSWIRE) -- TILT Biotherapeutics (Tiltbio), a clinical-stage biotechnology company developing intravenously delivered cancer immunotherapies, announces it has raised USD 25.6 million (EUR 22.6 million) in a Series B financing.The financing was supported by existing investors; the European Innovation Council (EIC) Fund, Lifeline Ventures, Finnish Industry Investment (TESI), and Stephen Industries Inc Oy. Interim results from ongoing Phase 1b trials are expected to read out in H2 2026.Tiltbios founder and CEO, Akseli Hemminki, said: We are delighted to have secured our Series B financing and thank our investors for their continued support. We are committed to our mission to transform the treatment options for patients with ovarian cancer with TILT-123.TILT-123 (Igrelimogene litadenorepvec), an oncolytic adenovirus armed with tumor necrosis factor (TNF) and interleukin-2 (IL-2), is designed to enhance the efficacy of T-cell therapies and immune checkpoint blockade. (1) Nature Communications paper: The oncolytic adenovirus TILT-123 with pembrolizumab in platinum resistant or refractory ovarian cancer: the phase 1a PROTA trial. To date Tiltbio has secured over EUR 72 million in financing from investors including the European Innovation Council (EIC) Fund, Lifeline Ventures, Finnish Industry Investment (TESI), Stephen Industries, angel investors, Business Finland, the EIC Accelerator programme, and the U.S. Department of Defense.