iTeos Therapeutics Awarded €15 Million in Non-Dilutive Funding by the Walloon Region
Funds will be used to progress iTeos’ two highly innovative clinical-stage oncology programs: a best-in class A2A receptor antagonist and an ADCC-enabled anti-TIGIT antibody drug candidate
Gosselies, Belgium and Cambridge, MA – January 30, 2020 – iTeos Therapeutics SA, a privately-held biotechnology company developing innovative cancer immunotherapies, today announced that it has been awarded a total of €15 million in non-dilutive funding to support the clinical development of its two proprietary anti-cancer drug programs, targeting key mechanisms of immunosuppression that are gaining prominence within industry development pipelines. The funding has been approved on behalf of the Walloon Region by Willy Borsus, Minister of Economy and Research.
Funding of €11.5 million has been awarded to progress iTeos’ lead candidate EOS-850, a best-in-class adenosine A2A receptor antagonist, and will be used to support the ongoing phase 1b/2a clinical trial, underway at four sites across Europe, and will soon expand to clinical sites in the United States. A second award of €3.5 million will support the Phase 1 clinical trial of iTeos’ fully-human ADCC-enabled anti-TIGIT antibody (EOS-448), which is expected to start in Belgium in February 2020.
Michel Detheux, Ph.D., Chief Executive Officer of iTeos, commented, “We are grateful to the Walloon Region for its continued support of iTeos Therapeutics. This investment is invaluable as we seek to progress our two clinical programs. During the last three years, iTeos has developed a comprehensive portfolio of immuno-oncology drug candidates, and these additional Walloon region funds will help us evaluate the performance of our promising lead programs in the clinic.”
For further information, please contact:
Michel Detheux, CEO
Amber Fennell, Catherine Day, Matthew Neal and Sukaina Virji
Consilium Strategic Communications
+44 203 709 5700
Stern Investor Relations, Inc.
+1 212 362 1200