Participated · Series B · Feb 2026

Kainova Therapeutics is a clinical-stage biopharmaceutical company focused on modulating G protein-coupled receptors (GPCRs) to improve patient outcomes in immuno-oncology and inflammation. The company’s lead program is a clinical-stage, Treg-depleting anti-CCR8 antibody that management says offers differentiated competitive features. A second program, currently at the pre-IND stage, is a first-in-class biased antagonist of PAR2 aimed at inflammatory pathways. By advancing these assets, Kainova seeks to build a diversified pipeline of GPCR-targeting therapies that can address multiple high-value indications. The firm operates across North America, France, and Australia, leveraging global clinical infrastructure. Proceeds from its recent Series B financing will be used to move its GPCR programs further into clinical development. No revenue, patient enrollment, or other operating metrics were disclosed, reflecting its pre-commercial status.

Participated · Series D · May 2025

FORE Biotherapeutics is a registration-stage targeted oncology company whose lead asset is plixorafenib (FORE8394; formerly PLX8394), a BRAF inhibitor with a mechanism described as both a dimer and paradox breaker. The company is advancing plixorafenib in the global Phase 2 FORTE Master Protocol, a registration-intended basket study that includes monotherapy baskets for recurrent or progressive BRAF V600E primary CNS tumors, rare BRAF V600 mutated solid tumors, and advanced solid tumors with BRAF fusions. Fore reported that target enrollment of approximately 50 patients has been reached in the BRAF V600E CNS tumor basket and expects topline results from that basket around the end of 2026; the company anticipates a potential regulatory submission if the primary analysis is positive. Plixorafenib received Breakthrough Therapy Designation from the FDA in April 2026, and prior Phase 1/2 data showed a 67% ORR in MAPK inhibitor–naïve BRAF V600 primary recurrent CNS tumors (n=9) and a 42% response rate with a median duration of response of 17.8 months in V600-altered, MAPK inhibitor–naïve patients. The company reported a favorable safety profile for plixorafenib, including a drug-related discontinuation rate of less than 2%, and has implemented protocol changes in FORTE such as allowing dosing with food and lowering the minimum enrollment age to 8 years based on IDMC clearance.

Participated · Series B · Sep 2024

Epsilogen's core product is MOv18 IgE, the first therapeutic IgE antibody to enter the clinic, which targets folate receptor alpha (FRα) expressed on multiple solid tumours. A completed Phase I trial showed MOv18 IgE to be safe and well tolerated with initial signs of clinical activity reported in Nature Communications. The company has completed large-scale GMP manufacture of MOv18 IgE and will initiate a Phase Ib two-part dose-escalation and expansion trial in FRα-positive platinum-resistant ovarian cancer later this year. Epsilogen is also developing a broader IgE-based pipeline, including IgE bispecifics and IgE/IgG combination molecules (IgEGs). The recent financing will fund delivery of clinical proof of concept for MOv18 IgE and further development across the IgE pipeline. Epsilogen develops novel immunoglobulin E (IgE) antibodies to treat cancer, with a focus on solid tumours. Its lead candidate, MOv18 IgE, is the first therapeutic IgE antibody to enter the clinic. Data from a phase I trial showed MOv18 IgE to be safe and well tolerated with early signs of clinical activity. The company plans to establish clinical proof of concept for MOv18 IgE in a phase Ib trial in platinum-resistant ovarian cancer. Epsilogen is also advancing a proprietary IGEG antibody platform that combines elements of IgE and IgG to create molecules with enhanced functionality. The recent financing will fund the phase Ib study and continued development of the IGEG platform. Epsilogen began operations in 2017 as a King’s College London spin-out leveraging Professor Sophia Karagiannis’s IgE expertise.

Participated · Series B · Jun 2024

iOnctura is a clinical-stage biopharmaceutical company focused on precision oral small molecules that target neglected and hard-to-treat cancers. Its lead program, roginolisib, is an allosteric modulator of PI3Kδ and has progressed into mid-stage clinical development. A second candidate, cambritaxestat, is an autotaxin inhibitor also in clinical development for oncology. The company intends to use recent financing to accelerate development of roginolisib for uveal melanoma and other indications. iOnctura plans to commence trials in additional cancer indications, including non-small cell lung cancer and primary myelofibrosis, later in 2024. The company is led by CEO Catherine Pickering and maintains a wholly owned Swiss subsidiary, iOnctura SA, in Geneva. iOnctura is a clinical-stage biotechnology company advancing selective cancer therapies that target proteins involved in proliferation, immune evasion, and drug resistance. The company is developing IOA-289, a drug candidate aimed at fibrotic tumours characterized by high connective tissue formation, including pancreatic cancer. IOA-289's mechanism seeks to inhibit 'bad' connective tissue cells that support tumors while preserving 'good' connective tissue cells that oppose them. iOnctura positions its multi-pathway targeting approach as offering significant clinical benefits over traditional single-pathway strategies. The company was recently awarded funding from KWF Kankerbestrijding (Dutch Cancer Society) to further develop IOA-289. No operating metrics or financial amounts were disclosed in the announcement. iOnctura BV is a clinical-stage biotech based in Amsterdam developing selective cancer therapies that target pathways involved in cellular proliferation, immune escape, and drug resistance. Its pipeline includes IOA-244, a highly selective allosteric PI3Kδ inhibitor, and IOA-289, a highly selective, non-competitive autotaxin (ATX) inhibitor. The company has progressed both candidates into mid-stage clinical development. On 8 December 2022 iOnctura announced the first patient was dosed in a Phase Ib trial of IOA-289 in metastatic pancreatic cancer. Led by CEO Catherine Pickering, iOnctura intends to use the new funds to advance the clinical program for IOA-289. The financing was provided to support continued clinical development of its oncology candidates. iOnctura is a spin-out from Merck with a pipeline of carefully selected assets licensed from Merck and Cancer Research UK. The company aims to uncover the key to unlock difficult-to-treat tumors burdened by stroma and immune-mediated resistance. iOnctura has demonstrated innovation through pioneering scientific research and collaborations with world-renowned partners, and is exploring new mechanisms of action. In a notable development, FIF granted iOnctura a growth loan of CHF 400,000. That CHF 400,000 award is the largest amount FIF has granted to date and the first time FIF issued a growth loan. The funding was announced as part of FIF’s program to foster innovation aligned with the UN Sustainable Development Goals. iOnctura develops differentiated, next-generation molecules that harness both immune-mediated and direct anti-tumour activity to improve clinical efficacy and safety in oncology. Its lead program, IOA-244, entered the clinic in Q1 2020. A second program is a novel autotaxin (ATX) inhibitor now at IND stage for patients with solid tumours complicated by cancer-associated fibrosis. The company intends to accelerate development of its dual immune- and tumour-targeting therapies using the newly raised funds. iOnctura was founded in June 2017 as a spin-out from Merck and was seed funded by M Ventures. The company is led by CEO Catherine Pickering and is headquartered in Geneva, Switzerland.

Participated · Series B · Feb 2024

Neophore develops small-molecule drugs that target novel proteins across the DNA mismatch repair (MMR) pathway to generate immuno-oncology therapeutics. Its MMR inhibitors induce neoantigen expression and increase immunogenicity in solid tumours, making them more sensitive to immunotherapy. The company is building a pipeline of small molecules aimed at improving clinical outcomes for cancer patients. Neophore plans to use the recent funding to explore novel biology associated with the MMR pathway, progress its pre-clinical studies, and deliver a candidate drug in 2025. The company is led by CEO Dr Matthew Baker. Neophore was spun out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund and is based in Cambridge, UK. NeoPhore is focused on discovering and developing novel small molecule therapies to treat cancer by stimulating the immune system. Its approach targets the DNA mismatch repair (MMR) pathway to promote neoantigen generation and subsequent immunity against tumors. The company was spun out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund and is led by CEO Dr Matthew Baker. NeoPhore raised an additional £9.6M in a Series B extension, bringing the Series B total to £31.1M. The company intends to use the funds to further advance its drug discovery pipeline and deliver a candidate drug for its lead PMS2 program by early 2025. Research collaborations with academic institutions remain in place to support its development plans. NeoPhore develops novel small-molecule therapies to treat cancer by stimulating the immune system. Its lead approach targets the DNA mismatch repair (MMR) pathway to promote neoantigen creation and enhance tumour immunogenicity. The company is advancing an expanding pipeline across multiple biological targets and modalities with plans to reach IND-enabling studies in 2024. NeoPhore has research collaborations with St George’s, University of London and a three-year agreement with Memorial Sloan Kettering Cancer Center to validate its proprietary MMR inhibitor compounds. In January 2022 the company achieved all investment-related scientific milestones significantly ahead of schedule. The recent financing will be used to progress the pipeline toward clinical enabling studies. NeoPhore focuses on the discovery and development of novel, first-in-class small molecule drugs that inhibit the DNA mismatch repair (MMR) pathway to promote neoantigen creation and anti-tumour immunity. The company leverages scientific findings from the University of Turin and works closely with its scientific founder Dr Alberto Bardelli and advisor Dr Luis Diaz. NeoPhore was spun out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund. Leadership includes Dr Robert James (Chairman) and Dr Matthew Baker (Chief Executive Officer). The company intends to use its latest financing to advance its drug discovery pipeline. Its core product strategy is to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. NeoPhore Ltd is a spin-out of PhoreMost Ltd focused on discovering and developing novel small-molecule therapies to treat cancer by stimulating the immune system. Its approach targets genetic mechanisms to directly stimulate neoantigen creation and increase antigen diversity across multiple cancers. NeoPhore aims to boost cancer immunity in patients with immunologically “cold” tumors and to improve responses in patients already eligible for cancer immunotherapy. The company uses insights from clinical and laboratory studies that suggest these genetic mechanisms will promote neoantigen creation and diversity. NeoPhore plans to use proceeds from a recent £3m financing to advance discoveries already made by PhoreMost and its collaborators.