BRIEF—SOTIO takes in up to 280 million euros in financing

Czech immuno-oncology specialist SOTIO Biotech, part of the investment company PPF Group, says it has raised up to 280 million euros ($317 million).

The money will be used to expand and advance its clinical pipeline, including its lead asset SOT101, an IL-15 superagonist, and three new clinical programs, until the end of 2023.

The company is planning two multi-indication Phase II trials for SOT101, testing the candidate as a monotherapy in melanoma, squamous skin carcinoma and kidney cancer, as well as in combination with a checkpoint blocker.

Three novel programs based on the company’s proprietary BOXR platform, which enhances the fitness of T cells in the hostile tumor microenvironment, will be taken into early clinical trials.

The funding is contingent on the achievement of certain development and regulatory milestones.