Wednesday, August, 05, 2020 06:07:01

3B Future Health makes new investment in Swiss biopharma firm iOnctura

3B Future Health Fund, formerly known as the Helsinn Investment Fund S.A., has reportedly announced that it has made a new investment in iOnctura SA, a renowned Switzerland-based clinical stage biopharmaceutical firm that is developing a comprehensive pipeline of next gen molecules that target fibrosis and cancer.

The Swiss biopharmaceutical company has also raised an added €5.1 million, which brings the total investment raised under its Series A to €20.1 million. With its investment, 3B Future joins the company’s current blue-chip investor portfolio of INKEF Capital, M Ventures, Schroder Adveq, and VI Partners, who all took part in the extension.

Funds raised from the Series A investment round would enable iOnctura to expedite the development of its next gen dual immune as well as tumor targeting treatments. The data obtained from early-stage clinical assessment of the company’s leading molecule; IOA-244, a PI3Kδ-inhibitor that is highly selective, in solid tumors is projected to enable progression to Phase Ib clinical trial much earlier than previously anticipated.

Additionally, preclinical development of the company’s second program, ATX-inhibitor IOA-289, with dual utility within cancer associated and organ specific fibrosis, would be expedited to enter human testing by the early months of 2021.

The biopharma firm has recently consolidated its team by appointing Dr. Joanna Horobin as its Chair. Dr. Horobin is a highly accomplished biotech leader and drug developer with more than 35 years’ worth of experience in biotech and pharmaceutical sector across U.S. and Europe.

Chairman, 3B Future Health Fund and Chief Executive Officer and Vice Chairman, Helsinn Group, Riccardo Braglia, stated that the company looks to make investment in companies that are is early-stage and are developing new therapies in areas with high and unmet patient needs.

Braglia further added that the company has been extremely impressed with iOnctura’s world class team as well as the immense potential of the company’s next gen molecules that target cancer as well as fibrosis.

Source credit: https://www.globenewswire.com/news-release/2020/07/14/2061622/0/en/3B-Future-Health-Fund-announces-new-investment-in-iOnctura.html