Cancer Immunotherapy Startup NeoTX Raises $45 Million
NeoTX uses STR to bind genetically engineered bacteria to tumor cells and simultaneously activate the antibacterial response of distant immune cells
Adi Pick | 10:46 20.02.2020
Rehovot, Israel-based cancer immunotherapy company Neotx Holdings Ltd. has raised a $45 million series C funding round, the company announced Wednesday. The round was participated by San Francisco-based Tako Ventures Investments, South Korean-listed NDFOS Co., Maurice Greenberg, the former CEO of NYSE-listed AIG, and chairman, and former vice chairman of The Blackstone Group J. Tomilson Hill. Founded in 2014, NeoTX uses Selective T cell Redirection (STR) technology to encourage a more effective immune response against cancer tumors. The company uses STR to bind genetically engineered bacteria to tumor cells and simultaneously activate the antibacterial response of distant immune cells. The company’s lead STR molecule is naptumomab estafenatox (Nap), a fusion protein that binds to an antigen expressed by different tumor cells. The company has raised $60 million to date, according to the statement.
The company intends to use the funds to advance its selective T-cell redirection molecule for the treatment of advanced and metastatic solid tumors.