iOnctura secures EUR 80 million Series B financing to advance cancer treatments

iOnctura has secured EUR 80 million in a Series B funding round to advance innovative cancer therapies, with a focus on neglected cancers such as uveal melanoma.

iOnctura, a clinical-stage biopharmaceutical company based in Geneva, announced it has closed an EUR 80 million Series B financing round. Led by Syncona Limited, with participation from the European Innovation Council Fund and existing investors, this funding will accelerate the development of iOnctura’s innovative cancer treatments.

iOnctura is developing precision oral small molecules targeting neglected and hard-to-treat cancers. The company’s lead asset, roginolisib, is the first allosteric modulator of PI3Kδ, showing promise in treating uveal melanoma and other oncology indications. Roginolisib has demonstrated an unprecedented clinical profile in solid and hematological malignancies, with over 48 patients treated to date.

This financing will support the development of roginolisib for uveal melanoma, a rare eye cancer with limited treatment options, and expand its application to other cancers, including non-small cell lung cancer and primary myelofibrosis. Additionally, iOnctura’s second clinical asset, cambritaxestat, an autotaxin inhibitor, is being developed for fibrotic tumors and is currently in a Phase Ib study for metastatic pancreatic cancer.

A promising future for iOnctura’s innovative approach

In the company’s press release, Catherine Pickering, CEO of iOnctura, stated: “This financing validates iOnctura’s approach to developing precision cancer treatments with maximum clinical impact. These therapies have the potential to significantly prolong the healthspan of patients suffering from neglected cancer types, such as uveal melanoma.”

Roel Bulthuis, Managing Partner at Syncona, added: “iOnctura represents a compelling opportunity to invest in a clinical-stage company with a promising lead program. By allosterically modulating PI3Kδ, iOnctura has achieved a new level of precision and could be the first to develop a clinically meaningful medicine targeting this pathway.”

Previously, iOnctura received a growth loan of CHF 400,000 from the Fongit Innovation Fund, highlighting its pioneering research and collaboration with esteemed partners. The company’s continuous innovation aims to change the outlook for patients and their families, offering new hope through advanced cancer treatments.

iOnctura’s headquarters are in Amsterdam, with a wholly-owned subsidiary in Geneva, and it is backed by specialist institutional investors including Syncona, EIC Fund, M Ventures, Inkef Capital, VI Partners, and Schroders Capital.