January 26, 2022 -- Cytovation has successfully closed a series A financing round, raising a total of 180 million Norwegian krone ($20 million U.S.). The funds will primarily be directed toward the clinical development of the company's lead asset, CyPep-1, a proprietary targeted tumor membrane immunotherapy engineered to selectively target cancer cells.
CyPep-1 eliminates cancer cells by forming pores in the plasma membrane, releasing cancer-specific antigens to the immune system, promoting an inflammatory microenvironment and inducing a tumor-specific immune response by in situ vaccination, according to Cytovation. Preclinical data suggest this mode of action is highly synergistic in combination with checkpoint inhibitors.
Proceeds from the series A funding will be used to progress the CyPep-1 oncology program to phase II and explore opportunities for pipeline development with CyPep-1-targeting patients.
Cytovation is a clinical stage immuno-oncology company focused on the development of its first-in-class targeted tumor membrane immunotherapy.
The series A round was led by Sandwater, a Norwegian venture capital firm that invests in groundbreaking companies across a range of industries, including the life sciences, and Canica, a large, privately owned investment company operating out of Norway and Switzerland that is focused on building highly innovative companies that aim to create value for investors and society as a whole.
Copyright © 2022 scienceboard.net
Member Rewards
Earn points for contributing to market research. Redeem your points for merchandise, travel, or even to help your favorite charity.
Research Topics
Interact with an engaged, global community of your peers who come together to discuss their work and opportunities.
Conferences
Connect
