Strasbourg, France-based biotechnology company specialising in personalized cancer immunotherapy, Odimma Therapeutics, raised EUR 2 million in seed funding. The round took place on May 2, 2023. Capital Grand Est, Alsace Business Angels, and Angels Santé joined in the financing. Historical founders and associates, several new Business Angels and BpiFrance also participated in the seed round.
Purpose of financing for Odimma Therapeutics
With the latest financing, Odimma Therapeutics seeks to secure the preparation for its First-in-Man clinical trial with ODI-2001, an innovative first-in-class personalized immunotherapy against cancer.
Meanwhile, the company is currently focusing on the preparation of Phase I clinical trial in patients with advanced solid tumours. These activities include regulatory interactions, toxicology as well as clinical operations. The company is also boosting its R&D activities to continue generating additional data and intellectual property.
What the company’s official has to say
Jean-Marc Limacher, M.D., Chairman of the company, said, “The renewed support of historical shareholders and the engagement of new investors is a mark of trust which acknowledges the advancements made by the company and its collaborators. This new investment will allow Odimma Therapeutics to bring ODI-2001 into the clinical stage of its development.”
What the investors have to add
Jean-Sébastien Schmitt, the representative of Alsace Business Angels, further said, “Fighting cancer with a technological disruption which is personalized, more efficient and quickly available for the patient was very attractive for our members. We are delighted to support Odimma’s team in their ambition and, as a first step, provide them with the best conditions for their clinical trial.”
In addition, Patrick Squiban, M.D. member and ambassador, Angels Santé Business Angels Network, said, “We are delighted about the success of this new refinancing round and are very pleased to contribute to the development of this promising technology. We are confident the innovative personalized immunotherapy platform developed by Odimma Therapeutics will give the best chances of success to immunotherapy in oncology.”
About Odimma Therapeutics
Jessica Matta 2017 launched Odimma Therapeutics. Earlier, the company completed the proof of activity experiments of its lead product, ODI-2001, in several hard-to-treat preclinical cancer models. In parallel, the company also secured the pharmaceutical process for the production of ODI-2001. This relies on pharmaceutical partnerships with world-class players in the field, such as myNEO (Ghent, Belgium) for neoepitope prediction by artificial intelligence, Touchlight Genetics (Hampton, UK) for the production of synthetic DNA and ABL Europe (Illkirch, France) for the production of the viral component of ODI-2001.
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