Funding round primes IO Biotech for shot at metastatic melanoma

The Novo Seeds portfolio company IO Biotech has raised 127 million euros ($155 million) in a Series B financing.

IO Biotech, which was launched in 2015 by the early-stage investment and company creation team of Novo Holdings, is developing immune-modulating anti-cancer therapies based on its proprietary T-win technology.

"Testament to IO Biotech’s team and the potential of its therapies for the treatment of metastatic melanoma"Last month, the US Food and Drug Administration (FDA) granted IO Biotech breakthrough therapy designation for a combination of its lead immuno-oncology therapies, IO102 and IO103, with anti-PD-1 monoclonal antibodies for patients with unresectable or metastatic melanoma.