Sciety’s portfolio company Neogap raises SEK 83 million
PRESS RELEASE. Sciety och Sciety Venture Partners have invested SEK 54 million in Neogap Therapeutics (Neogap), a Swedish clinical-stage biotech company that develops personalised immunotherapy for cancer treatment with the help of two emerging technologies. The company has also been awarded roughly SEK 29 million in innovation funding from the EU. The capital will be used to complete the company’s ongoing phase I/IIa clinical study with patients with colorectal cancer.
Neogap’s immunotherapy uses the patient’s own immune cells to create a tailored treatment that is adapted to the patient and their specific tumor cells. The therapy is based on the company’s PIOR® and EpiTCer® technologies, which use advanced techniques to specifically target cancer cells and destroy them while simultaneously minimising damage to healthy cells.
The SEK 54 million investment from Sciety and Sciety Venture Partners along with the SEK 29 million grant from the European Innovation Council (EIC) Accelerator, a prestigious funding program within the European Union, will be used to conduct a clinical phase I/IIa study with patients with colorectal cancer. The primary objective of the study, which started in the second quarter of 2023, is to demonstrate that the treatment is safe, but the company will also investigate signs of treatment effect, by measuring tumor growth and tumor spread.
Since the initial investment from Sciety and Sciety Venture Partners in 2021, Neogap has completed the preclinical development, applied for and received approval for the phase I/IIa clinical trial in patients with colorectal cancer, thereby taking the candidate from preclinical to clinical development. The company is leading the way for a new type of individualised cancer treatment. Their immunotherapy combines cutting-edge research in cancer and immunology with the goal of treating cancer patients who are not helped by current treatments. This has contributed to the continued support from Sciety and Sciety Venture Partners, who are investing in Neogap for the second time.
Andreas Lindblom, Managing Partner at Sciety, comments: ”We are delighted to once again invest in Neogap and thus be able to contribute to important advances in cancer treatment. The company has a unique approach that is based on the realisation that each cancer is unique and differs between different patients and tumors. By using proprietary algorithms for machine learning and patented technology to train the patient’s own T-cells to attack the cancer cells, the company develops a completely individualised treatment. The company’s first indication, colorectal cancer, is the second most common cause of cancer death, so there is a great medical need here.”
Samuel Svensson, CEO at Neogap, adds: “The continued support from Sciety and Sciety Venture Partners enable us to continue our clinical development, with the opportunity to actually treat patients. Our long-term goal is to contribute to an improved quality of life and survival rate for cancer patients, and in Sciety, we have a strong financial partner who shares our vision and also contributes with experience and expertise within our industry.”
Andreas Lindblom, Managing Partner, Sciety: email@example.com, phone 070-375 73 73
Samuel Svensson, CEO, Neogap: firstname.lastname@example.org, phone 073-354 21 94
About Neogap Therapeutics
Neogap Therapeutics is a Swedish clinical-stage biotechnology company focused on developing personalised cancer immunotherapy using patient’s own cells. The therapy is based on the company’s two technologies PIOR® and EpiTCer®. PIOR® is sophisticated software that uses DNA sequencing data from the patient and machine learning algorithms to select tumour-specific mutations. Then, EpiTCer® is used to multiply T cells that can recognise and attack the selected tumor-specific targets. Neogap is located at the Centre for Molecular Medicine at the Karolinska Institute in Stockholm. To learn more about Neogap and its cutting-edge research, please visit the company’s website at neogap.se and follow Neogap on LinkedIn.
Sciety is a leading investment company, committed to supporting the growth of innovative life science and health tech companies in the Nordic region. We invest alongside Sciety Venture Partners, comprising family offices and private investors, as well as venture capital firms. Our mission is to enable the full potential of life science innovations, helping to bring breakthroughs in healthcare to people all over the world. For more information, please visit www.sciety.com and follow us on LinkedIn.
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