Tiltbio Secures $25M for Mid-Stage Oncolytic Virus Study

Tilt Biotherapeutics has successfully secured €22.6 million ($25.6 million) in a series B funding round to further develop its innovative oncolytic adenovirus therapy, TILT-123, into a Phase II clinical trial targeting platinum-resistant ovarian cancer (PROC). This therapy, equipped with TNFα and IL-2, aims to enhance the effectiveness of T cell–based treatments like tumour-infiltrating lymphocytes (TILs) or checkpoint inhibitors.

This funding round increases the Finnish biotechnology company's total investment to over €72 million. Several key investors, including the European Innovation Council Fund, Finnish Industry Investment, Stephen Industries Inc Oy, and Lifeline Ventures, participated in this round. Notably, Lifeline Ventures previously led Tilt Biotherapeutics' €22-million financing last year.

The acquisition of new capital follows Tilt Biotherapeutics' recent presentation at the American Association for Cancer Research (AACR) meeting, where promising results from the PROTA Phase I study were shared. This study investigated the effects of TILT-123 combined with Merck & Co.'s PD-1 inhibitor Keytruda (pembrolizumab) on patients with PROC. Out of 14 patients evaluated, nine achieved disease control, yielding a 64% success rate. The median progression-free survival stood at 98 days, while the median overall survival reached 190 days. Among the high-dose cohort consisting of five patients, the combination therapy achieved an overall response rate of 20%.

Akseli Hemminki, CEO of Tilt Biotherapeutics, emphasized the persistent unmet medical need in ovarian cancer despite the approval of new therapies. Hemminki expressed optimism regarding the progress made in ovarian cancer research and highlighted the importance of the recent financing in advancing their Phase II clinical trials. Hemminki revealed that the company has already inaugurated its first site in the United States and plans to begin dosing patients shortly, with ambitions to open at least five additional sites within the year.

Beyond ovarian cancer, Tilt Biotherapeutics is investigating the potential of TILT-123 in other cancer types. The recent funding will support a Phase Ib study administering TILT-123 alongside TILs in melanoma patients. Additionally, the biotech company is exploring the combination of Keytruda with TILT-123 in patients with refractory non–small-cell lung cancer. Tilt Biotherapeutics has also collaborated with Merck KGaA to test TILT-123 in conjunction with PD-L1 inhibitor Bavencio (avelumab).

The ongoing research and trials underscore Tilt Biotherapeutics' commitment to pioneering advancements in cancer treatment. By leveraging the oncolytic properties of TILT-123 and integrating it with existing therapies, the company aims to improve outcomes for patients facing challenging cancer diagnoses. The infusion of capital and strategic partnerships empower Tilt Biotherapeutics to continue its mission of transforming cancer therapy and addressing critical gaps in current treatment paradigms.