PEP-Therapy raises €2.75 million in Series A to advance its lead candidate into the clinic
Spin-off from Institut Curie founded in 2014, PEP-Therapy announces it has raised a €2.75 million in a Series A financing round to advance its lead candidate, PEP-010, into the clinic. The biotechnology company develops cell penetrating peptides as targeted therapies for the treatment of cancers. The financing round is complemented by a €2.9 million grant from the French state innovation fund - Fonds Unique Interministériel (FUI) – previously received by PEP-Therapy, Institut Curie and Gustave Roussy to develop PEP-010 up to the end of Phase Ia/b clinical trials.
The company will use the funds to progress the clinical development of PEP-010 for the treatment of advanced solid tumors. PEP-010 is the first of a new class of therapeutic peptides based on PEP-Therapy’s innovative CP&IP (Cell Penetrating & Interfering Peptide) technology. These innovative molecules penetrate cells and specifically block relevant intracellular protein-protein interactions, leading to the inhibition of key pathological mechanisms, without altering physiological mechanisms.
|With this Series A funding, PEP-Therapy expects to generate promising Phase Ia/b clinical data in two indications where patients have a poor prognosis and limited therapeutic alternatives: triple negative breast cancer (TNBC) and the platinum resistant ovarian cancer (OC).|
We are pleased to have raised these new funds from a syndicate of high-quality and international investors, as well as from our historic shareholders, who all share our ambition, commitment, and vision for PEP-Therapy’s development. We are preparing for the first-in-human trials with PEP-010 and look forward to generating the clinical results that we hope will confirm the very promising results seen in preclinical studies.
said Antoine Prestat, CEO and co-founder of PEP-Therapy.