BRIEF—DeuterOncology closes Series A financing round

Belgian clinical-stage biotech DeuterOncology, which was founded in September 2020, today announced the closing of its 5.65 million euros ($6.1 million) Series A financing, with participation from historical investor Newton Biocapital and new investors Noshaq and Investsud Tech.

This funding will enable the company to start the Phase I clinical study for its lead product DO-2, an improved MET kinase inhibitor currently being developed as a potential best-in-class targeted therapy for lung cancer.

MET inhibitors have recently been approved for patients with non-small cell lung cancer (NSCLC) harboring the MET exon 14 skipping mutant. Unfortunately, they all suffer from the same issue: poor tolerability.

Timothy Perera, founder and chief executive of DeuterOncology, said: “We are grateful for the continued guidance and financial support of Newton Biocapital as well as the new investments from Noshaq and Investsud Tech.”

He added: “This new funding will enable us to translate the strong pre-clinical data package into the clinic and validate DO-2 as a best-in-class MET kinase inhibitor, as well as to identify a recommended Phase II dose.”