Israeli co NeoTX Therapeutics raises $45m

drug development

The Rehovot-based company is leveraging its proprietary Selective T cell Redirection (STR) platform to develop targeted anticancer immunotherapies.

Israeli clinical-stage biotechnology company NeoTX Therapeutics has closed a $45 million Series C financing round. The Rehovot-based company is leveraging its proprietary Selective T cell Redirection (STR) platform to develop targeted anticancer immunotherapies.

To date, NeoTX has raised over $60 million. NeoTX plans to use the proceeds of the latest financing round to advance its STR platform for the treatment of advanced and metastatic solid tumors as well as to in-license new technologies.

NeoTX CEO Asher Nathan said, "With the funds raised in this financing, we intend to complete the dose escalation phase of the Phase 1b trial of naptumomab estafenatox (Nap) in combination with durvalumab and continue to develop our patented STR platform. Our platform, which uniquely leverages the body’s natural antibacterial immune response to selectively redirect T cells to kill the tumor, has the potential to be applicable in a variety of solid tumor indications and in combination with other immunotherapies. We look forward to the clinical advancement of Nap and expanding our platform in order to provide new options to patients suffering from advanced cancers."

Published by Globes, Israel business news - en.globes.co.il - on February 19, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

drug development
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