NK:IO, a leader in natural killer (NK) cell biology applied to the development of exceptionally potent, off-the-shelf cell therapies targeting solid tumours, has raised 拢1.2m.
The latest investment has swelled the company鈥檚 total equity financing to 拢3.2m and is in addition to 拢1.9m grants.
The 拢1.9m comprises the recent Innovate UK New Cancer Therapeutics award of 拢1.6m and a previous Innovate UK Accelerator grant of 拢300,000.
The current investment round was led by Cancer Research Horizons through its seed fund and included the Imperial College Enterprise Fund, Start Codon, UK Innovation & Science Seed Fund and Meltwind.
The company was founded in December 2020 by Hugh J M Brady, Matt Fuchter, and Mike Romanos, an experienced industry executive and entrepreneur.
The board is chaired by Keith Thompson CBE, former CEO of the UK鈥檚 Cell and Gene Therapy Catapult.
The company鈥檚 first indication targeted will be ovarian cancer, in collaboration with Prof Iain McNeish, professor of oncology at Imperial College, director of the Ovarian Cancer Action Research Centre and a leading expert in the field.
The investment will be used to drive NK:IO鈥檚 cell therapy candidates through full pre-clinical testing.
Mike Romanos, co-founder and interim CEO, said: 鈥淲e are very excited by the potential of NK:IO鈥檚 platform to address unmet needs in cancer cell therapy, including solid tumours, and to revolutionise the field.
鈥淲e are delighted by the support of our investors, including Cancer Research Horizons, who have joined to lead the round.
鈥淥ur recent success in securing non-dilutive funding under Innovate UK鈥檚 鈥楴ew Cancer Therapeutics鈥� program further endorses this vision.鈥�
Tony Hickson, chief business officer at Cancer Research UK and Cancer Research Horizons, said:聽鈥淐ancer Research Horizons believes that NK:IO鈥檚 technology, based on pioneering research from Imperial College, has transformational potential for cancer patients.
鈥淲e are delighted to support the company鈥檚 progression and excited to work with the team as they progress to the clinic.鈥�