Sciety invests in cutting-edge biotech company NEOGAP Therapeutics
PRESS RELEASE. Sciety recently made an investment of over SEK 58 million in the cell therapy company NEOGAP Therapeutics, which is developing personalised immunotherapy for the treatment of cancer. The new capital will be used for a clinical phase I/II trial in colorectal cancer with an estimated start in 2022.
“We are very pleased with this share issue and welcome all new shareholders. We now have a syndicate of financially strong investors on board who not only share our vision but also expand our network and add valuable life science expertise. We are now financially equipped to carry out our first clinical trial and look forward to next year with joy and confidence, ” says Samuel Svensson, CEO of NEOGAP.
The new capital will be used to conduct a clinical phase I/II trial in colorectal cancer patients which is expected to start in 2022. Colorectal cancer accounts for approximately 10% of all cancer cases and is the second leading cause of cancer death.
Immunotherapy, which uses the patient’s immune system, has emerged as a new treatment option with the potential to completely cure cancer patients who would otherwise have a low likelihood of survival. However, many immunotherapies still suffer from severe side effects and insufficient efficacy, especially in solid tumours which make up 90% of all tumors.
NEOGAP’s personalised immunotherapy is based on the company’s proprietary technologies and can be described as “strengthening” the patient’s T-cells and directing them towards the cancer cells. By targeting only tumour-specific mutations, so-called neoantigens, and leaving healthy cells untouched, the treatment significantly reduces the risk of side effects.
“There is a great need for better therapies for solid tumors and we believe that NEOGAP’s neoantigen-based cell therapy has the potential to make a considerable difference in the understanding and treatment of cancer,” says Andreas Lindblom, CEO of Sciety.
NEOGAP Therapeutics is a biotechnology company specialized in personalised cancer immunotherapy. Based on the novel and proprietary PIOR® and EpiTCer® technologies, NEOGAP develops a treatment for solid tumours by identifying each patient’s tumor-specific mutations and creating a tailored autologous T-cell therapy. NEOGAP was founded in 2016 and is located at the Center for Molecular Medicine, Karolinska Institutet in Stockholm.
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Sciety is the leading Nordic life science and health tech investment syndicate. By combining experience from life science and finance we select promising companies in the industry. We invest our funds in all companies that pass our selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels.
Our mission is to help life science innovations to reach their full potential.