TILT Biotherapeutics From Finland Secures €10M for Viral Cancer T-Cell Immunotherapy
TILT Biotherapeutics Ltd, the Finnish oncolytic immunotherapy startup founded in 2013, has closed a financing round of 4.0M€ (~$4.3M) to progress its lead candidate, TILT-123, into Phase I clinical trials.
This adds up to TILT’s seed funding, bringing its total funding to almost 10M€ (~$10.6M).
The investors include Lifeline Ventures Ltd, the Finnish Funding Agency for Technology and Innovation (Tekes), the European Commission, and business angels. The latest funding round consists of loans from Tekes and important equity investments from Lifeline Ventures and private investors. "TILT is an interesting investment opportunity because the TILT technology is likely to be the most effective oncolytic immunotherapy in the context of T-cell therapies and anti-PD1, and the team has an unparalleled track record in clinical translation" says Timo Ahopelto, one of the founders of Lifeline Ventures.
TILT is further aiming at expanding its current investor base to secure capital for additional Phase I/II clinical trials and establishing collaborations with companies having synergic technologies in the immuno-oncology field, notably those with checkpoint inhibitors or CAR-T.