BRIEF—NeoPhore raises $28.5 million in series B financing

NeoPhore, a British immuno-oncology company specializing in the development of neoantigens, has raised $28.5 million in a series B financing round, with a $7.5 million extension.

Investors included the CRT Pioneer Fund, Claris Ventures, 2Invest, 3B Future Health Fund and Astellas Venture Management.

NeoPhore, which is targeting the DNA mismatch repair (MMR) pathway to treat cancer, will use the money to progress its pipeline to the start of investigational new drug (IND)-enabling studies in 2024.

Chairman Robert James said: “We believe that by altering the tumor genotype to elicit immunological responses, we can offer huge clinical benefit in the level and durability of anti-tumor responses in a wide range of indications for the benefit of cancer patients.”

He added: “2022 was a year of remarkable progress for NeoPhore in which it demonstrated, for the first time that we are aware of, a number of exciting therapeutic consequences of inhibiting mismatch repair with a small molecule."