ITeos nabs $125M as they prep Keytru­da com­bi­na­tion tri­al — if Covid-19 will let them

For iTeos, it turned out, $75 mil­lion could on­ly last so long.

Two years af­ter an­nounc­ing their eye-catch­ing Se­ries B raise, the Bel­gian biotech is back with an even larg­er Se­ries B-2: $125 mil­lion.

The now $175 mil­lion fi­nanc­ing – $25 mil­lion of the first B round is con­sid­ered part of the sec­ond – il­lus­trates the vast cap­i­tal avail­able for those with promis­ing new im­muno-on­col­o­gy com­pounds, par­tic­u­lar­ly those that might be used in com­bi­na­tion with ex­ist­ing ther­a­pies. In De­cem­ber, iTeos an­nounced a col­lab­o­ra­tion with Mer­ck to test its lead com­pound with Keytru­da this year. The pro­ceeds will push for­ward that tri­al and help fund the on­go­ing Phase I/II tri­als for that com­pound, EOS-850, and a sec­ond one, EOS-448.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER