OverT secures $16M for solid tumor cell therapies

OverT Bio, a biotech startup, announced its launch on Monday, backed by a $16-million seed funding round aimed at tackling the challenges that have hindered the effectiveness of cell therapies in treating solid tumors. Despite the success of CAR-T cell therapies in hematologic cancers, similar breakthroughs in solid tumors have been elusive.

One notable advancement in this field came in February with the approval of Iovance’s tumor-infiltrating lymphocyte (TIL) therapy, Amtagvi (lifileucel), for certain types of melanoma. However, this treatment has a limited scope and necessitates co-administration with IL-2, indicating the need for broader and more versatile solutions.

To address these challenges, OverT Bio is focusing on studying patients' immune responses to uncover new receptors and targets. Additionally, the company will explore the genome to enhance the durability and potency of cell therapies. The funds raised will be utilized to expand OverT's discovery platforms, which encompass massively parallel genetic screening, single-cell multiomics, and synthetic biology technologies.

Vasudev Bailey, a partner at ARTIS Ventures, highlighted the uniqueness of OverT’s approach, emphasizing that the company is not merely making incremental improvements to existing therapies but is committed to pioneering transformative advancements in cell therapy. Bailey noted, “OverT’s approaches to modifying cell behavior and for receptor discovery are highly differentiated from everything else out there.”

The financing round was co-led by ARTIS Ventures and Wing VC, with participation from Fusion Fund, OMX Ventures, Alexandria Venture Investments, Gaingels, Civilization Ventures, Hawktail, and the Cancer Research Institute. This diverse group of investors underscores the broad interest and confidence in OverT Bio’s innovative strategies for combating solid cancers.

Overall, OverT Bio’s launch and its substantial seed funding mark a significant step towards overcoming the existing limitations of cell therapies in treating solid tumors, promising new avenues for cancer treatment through advanced genetic and synthetic biology research.