Onxeo announces a fundraising of nearly €10 million to fight tumor resistance to treatments
Onxeo announce a significant fundraising of €9,7 million, acquired from its latest capital increase, to help fighting tumor resistance to treatments. Founded in 2006, this clinical-stage biotechnology company designs and develops novel oncology drugs targeting tumor DNA repair functions. Its therapeutic strategy focuses on fighting resistant cancers, which poses ever-greater therapeutic challenges, especially in aggressive or rare cancers. In 2016, Onxeo acquired DNA Therapeutics, a company co-founded by Marie Dutreix, head of DNA Repair, Radiations and Innovative Cancer Therapies Team at Institut Curie.
A fundraising that paves the way to clinical applications
The funds raised will benefit the clinical development of Onxeo's flagship technology AsiDNA™. First-in-class inhibitor of the response to DNA damage, AsiDNA™ represents a strong potential innovation for patients suffering from different types of cancer. Its mechanism of action? It disrupts and depletes the capacity of tumor cells to repair their DNA by acting upstream of multiple repair pathways, as soon as damage is signaled.
We are thrilled with this fundraising which will primarily accelerate the development of AsiDNA™, with two clinical trials that will combine it with other anti-cancer agents. This paves the way to new treatments to destroy highly resistant tumors, a unique opportunity to defeat these cancers.
explains Marie Dutreix, whose work led to the creation of this therapeutic innovation.
AsiDNA™ also recently offered a promising collaboration between Institut Curie and Onxeo for the treatment of high-grade glioma in children.
With the achievement of these milestones, Onxeo continues its dazzling progress in developing new innovative treatments against cancer, for the benefit of patients.