UK-based biotechnology company Theolytics has concluded a funding round securing a total of £19m ($24.5m) to advance the development of its lead oncolytic adenovirus therapy, THEO-260.
Beginning this year, the trial will seek to validate the drug’s safety and efficacy.
The upcoming trial will be crucial in understanding the dual mechanism of THEO-260, which targets cancer cells and cancer-associated fibroblasts while exhibiting immunomodulatory effects.
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The trials will explore administration to participants via intravenous or intraperitoneal routes.
Theolytics CEO Charlotte Casebourne Stock stated: “Our lead asset THEO-260 will be entering the clinic this year, and at this key juncture we are pleased to complete this significant financing and welcome Sound Bioventures as a new investor.
“Sound Bioventures’ extensive oncology experience, network, operational expertise and collaborative approach will bring important benefits to Theolytics and I am delighted to welcome Thomas Tan to our board.”
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