IDO on the re­bound? Dan­ish out­fit IO Biotech hopes so with over­sub­scribed Se­ries B one month af­ter BTD in melanoma

Less than a month af­ter achiev­ing break­through ther­a­py des­ig­na­tion in melanoma, IO Biotech has se­cured an over­sub­scribed Se­ries B that will help them get their im­mune-mod­u­lat­ing IDO and PD-L1 can­cer vac­cines through a late-stage tri­al.

The Copen­hagen-based com­pa­ny net­ted €127 mil­lion ($154.5 mil­lion) in the round, it re­vealed Wednes­day morn­ing, rais­ing the stakes for its T cell ac­ti­vat­ing ther­a­pies. It’s the biggest fundraise for the biotech since its found­ing in con­junc­tion with No­vo Seeds in 2014, when it pulled in an amount more than 11 times high­er than its Se­ries A about four years ago.

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