Advancements in Antibody-Drug Conjugates by Oncomatryx Biopharma Recognized with a €12.5 Million Grant
Oncomatryx Biopharma, a leading European developer of next-generation Antibody-Drug Conjugates (ADCs) for oncology, has secured significant funding to accelerate its clinical trials and expand its R&D capabilities. The European Innovation Council (EIC) Accelerator has provided the company with €12.5 million, consisting of a €2.5 million grant and a €10 million equity investment as part of its upcoming financing round.
This funding will enable Oncomatryx to significantly expand its operations and R&D efforts, with a particular focus on advancing its lead clinical program, OMTX705. OMTX705 is an ADC targeting Fibroblast Activation Protein (FAP) expressed in aggressive tumors with high unmet medical need.
The clinical progress of OMTX705 has been promising. In clinical trials, the drug has demonstrated a favourable safety profile with no dose-limiting toxicity and sustained patient responses. Ninety-five patients have been treated in the dose-escalation and 3 backfilling cohorts of metastatic immune-cold solid tumors.
Ongoing randomised clinical trials are underway in immune-cold metastatic pancreatic cancer, microsatellite stable (MSS) colorectal cancer, and non-small cell lung cancer (NSCLC). These trials aim to further evaluate the efficacy and safety of OMTX705 in these difficult-to-treat cancers.
Oncomatryx's ADC platform integrates proprietary novel payloads and advanced conjugation formats. The company's innovative approach combines a deep understanding of the tumor microenvironment biology with these proprietary technologies.
This funding is a major milestone for Oncomatryx, validating its innovative approach to oncology drug development. The company has been recognised as Europe's leading ADC platform, with endorsements from the European Union, the Spanish government, and the Basque Regional Government.
Oncomatryx Biopharma aims to contribute to advancing new treatment options for patients with hard-to-treat solid tumors. With this new funding, the company is well-positioned to solidify its position as a European leader in oncology ADC therapeutics.
[1] European Innovation Council (EIC) Accelerator. (n.d.). Retrieved from https://eic.europa.eu/accelerator/home [2] Oncomatryx Biopharma. (n.d.). Retrieved from https://www.oncomatryx.com/ [3] Innvierte. (n.d.). Retrieved from https://www.innvierte.es/ [4] CDTI. (n.d.). Retrieved from https://crt.gob.es/ [5] Basque Regional Government. (n.d.). Retrieved from https://www.basqueresearch.com/
"Securing EIC Accelerator funding is a major milestone for Oncomatryx Biopharma, which will allow us to accelerate our clinical trials for OMTX705 across several difficult-to-treat cancers and scale our R&D capabilities to solidify our position as a European leader in oncology ADC therapeutics," said a spokesperson for Oncomatryx Biopharma.
- This significant funding from the European Innovation Council (EIC) Accelerator will enable Oncomatryx Biopharma to accelerate its clinical trials for its lead clinical program, OMTX705, which targets Fibroblast Activation Protein (FAP) expressed in aggressive tumors with high unmet medical need.
- The clinical progress of OMTX705 has been promising, demonstrating a favorable safety profile with no dose-limiting toxicity and sustained patient responses.
- Investing in Oncomatryx Biopharma through the EIC Accelerator's upcoming financing round not only provides a €2.5 million grant but also a €10 million equity investment, strengthening their financial position for future R&D activities.
- With the funding, Oncomatryx Biopharma aims to contribute to advancing new treatment options for patients with hard-to-treat solid tumors and solidify its position as Europe's leading developer of next-generation Antibody-Drug Conjugates (ADCs) for oncology, recognized by various European institutions such as the European Union, the Spanish government, and the Basque Regional Government.
