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Cytune Pharma secures €6M in financing to advance lead immuno-oncology program to Phase I
Nantes, June 29, 2016 – Cytune Pharma SAS, a French biotechnology company focused on developing novel immunotherapies for the treatment of cancer, announced the closing of a €6M financing round from existing investors. Funds will be used to advance the RLI15 lead program to Phase I clinical trials. Key investor PPF Group and the founding shareholders also agreed on a full buyout of the remaining shares at the start of Phase I.
PPF Group acquires a minority stake in biotech company Cytune Pharma in cooperation with SOTIO
PPF Group has acquired a significant minority stake in Cytune Pharma SAS, a French biotechnology company focused on researching and developing new therapies for immune modulation aimed at enhancing immune response of patients suffering from cancer and infectious diseases. Cytune’s platform based on modified IL-15 offers the possibility of combinations with other immunotherapeutic strategies, including checkpoint inhibitors.
PPF Group expands in the field of biotechnology and immunotherapy
PPF Group has acquired a minority stake in OriBase Pharma, a biotechnology company which specialises in the development of new therapies in oncology. The acquisition will strengthen PPF’s research and product portfolio, currently represented by SOTIO which is developing a next-generation Active Cellular Immunotherapy based on activated dendritic cells for the treatment of cancer and autoimmune diseases. Cooperation between OriBase Pharma and SOTIO will enable the effective sharing of research, expertise and clinical development capacities in the area of immunotherapy and targeted therapies.