Global-Spin News

Belgium Spin-off Dedicated to Cancer Patients

Belgium Spin-off Dedicated to Cancer Patients
Monday, 9 July 2018

iTeos Therapeutics, a private biopharmaceuticeutical company based in Belgium and the USA [1], was founded as a spin-off in 2011 from the Ludwig Cancer Research (LICR) and the Duve Institute at the University of Louvain (UCL) [2]. Their goal is to improve conditions for cancer patients by focusing on the design and development of immunotherapies. As of June 2018, iTeos has finished a session of Series B funding, raising 64 million euros. [1]

With the support of the leading investor, the American fun MPM Capital, iTeos will be able to advance with several of their new immuneoncology drug candidates and test two in the next 12 months. The funding will also support the company to expand their headquarters to offices in Cambridge Massachusetts. [3]

In addition to the new connections made during this funding, the connection between the University of Louvain and the Ludwig Cancer Research Centre make iTeos an excellent group as they advance forward. This is probably while this fundraising round has been one of the largest ever reached in Europe for a university spin-off. [3]

As one of the greatest challenges facing us today, it is good to think that the fight against cancer is being supported by experts around the world.

[1] https://www.iteostherapeutics.com
[2] https://www.biospace.com/employer/548154/iteos-therapeutics
[3] https://www.globalbankingandfinance.com/vives-portfolio-company-iteos-therapeutics-a-spin-off-of-ucl-and-licr-strengthened-by-an-oversubscribed-series-b-fundraising-of-64-million-euros