Marcus Kostka, Abalos Therapeutics CEO

In the packed on­colyt­ic virus space, a Ger­man biotech with a unique ap­proach makes in­vestors reach deep­er in­to their wal­lets

When Aba­los Ther­a­peu­tics closed its $12 mil­lion Se­ries A round two years ago, the com­pa­ny was es­sen­tial­ly “two guys, a key and one room,” CEO Mar­cus Kost­ka jokes.

Now, the start­up is 13 em­ploy­ees large, with an are­navirus-based can­cer pro­gram near­ly ready for the clin­ic. And that, ac­cord­ing to in­vestors, war­rants a bit more cash.

Aba­los locked down a $37.6 mil­lion Se­ries A ex­ten­sion on Thurs­day, bring­ing its to­tal raise to near­ly $50 mil­lion. Sev­en­ture Part­ners led the round, with some help from new in­vestors Co­par­i­on, Ven­tu­ra Bio­Med In­vestors, and Hx Bio Ven­tures. A few play­ers from the ini­tial round al­so reached a lit­tle deep­er in­to their wal­lets, in­clud­ing the Boehringer In­gel­heim Ven­ture Fund (BIVF), Grün­der­fonds Ruhr, NRW.BANK and High-Tech Grün­der­fonds (HT­GF).

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA