On April 1, 2020, iTeos Therapeutics, a privately-held clinical-stage biotech company developing innovative cancer immunotherapies, announced the closing of an oversubscribed Series B2 financing, which raised a total of $125 million. The Series B2 financing round was co-led by RA Capital Management and Boxer Capital, and included new investors Janus Henderson Investors, RTW Investments, and Invus along with existing investors MPM Capital, HBM Partners, 6 Dimensions Capital, Curative Ventures, Fund+, VIVES Louvain Technology Fund, SRIW, and SFPI.
The company, which is based in Belgium with a U.S. headquarters in Cambridge, will use the money to run clinical trials of its two lead cancer drugs. One of those treatments, EOS-850, will be tested in combination with Merck & Co.’s blockbuster drug Keytruda. The cancer immunotherapy made Merck more than $11 billion in worldwide sales last year.
A Wilson Sonsini Goodrich & Rosati team including Michael Hostetler and Julia Minitti advised investors on IP matters in the transaction.
For more information, please see iTeos’ press release.