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news.Oncos Therapeutics, a biotech company developing new cancer therapeutics based on its next generation oncolytic viruses, has raised a EUR4m investment from HealthCap to develop oncolytic viruses into cancer treatments.
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Oncos Therapeutics said that after treating 200 late stage cancer patients since 2007 with safety and efficacy results, it has selected its modified oncolytic adenovirus CGTG-102 as its lead clinical candidate.
Pekka Simula, CEO and co-founder of Oncos Therapeutics, said: “This is the first step to turn our Advanced Therapy Access Program results into cancer therapeutics.”
Akseli Hemminki, research professor, CSO and co-founder of Oncos Therapeutics, said: “The results have been strong for late stage solid tumor cancers where routine therapies have failed. Time is critical in the treatment of cancer. We are confident that when treating earlier stage patients, our oncolytic virus therapy will prove even more significant.”
Johan Christensen, partner at HealthCap, said: “Oncolytic viruses are maturing as a new treatment modality in cancer. Oncos, as one of the leading companies in the field, and combines very promising results in humans with strong science.”
With committed capital exceeding EUR800m, HealthCap is a provider of venture capital within life sciences in Europe.