Marseille, France, June 13, 2022 – ImCheck Therapeutics has announced the successful completion of a EUR 96 million Series C financing round, equivalent to 103 million USD, co-led by Earlybird and Andera Partners. This significant financial boost, totaling $103 million (converted from 96 million euros based on the exchange rate at the time of closing), solidifies ImCheck’s leadership in the innovative field of gamma-delta T cell therapeutics and strengthens its financial position for upcoming clinical milestones. The financing round also welcomed new investors, including Invus and The Leukemia & Lymphoma Society Therapy Acceleration Program®, alongside continued support from existing investors.
Significant Funding Round for Immuno-Oncology Pipeline
The substantial capital infusion will primarily fuel the advancement of ImCheck’s lead candidate, ICT01, an anti-butyrophilin 3A antibody. Specifically, the funds are earmarked for the Phase IIa expansion arms of the EVICTION trial, targeting both solid tumors and hematologic cancers. Furthermore, the financing will support the completion of randomized, double-blind, placebo-controlled Phase II clinical trials. These trials are designed to evaluate the efficacy of ICT01 in combination with a PD-1 inhibitor across a range of solid tumor types, marking a critical step in its clinical development.
Advancing ICT01 and Exploring Combination Therapies
Beyond the ongoing EVICTION trials, ImCheck plans to broaden the investigation of ICT01’s therapeutic potential. The newly secured funding will enable the initiation of the EVICTION-2 clinical trial, which will explore ICT01 in combination with other therapeutic agents, notably IL-2. This strategic approach to combination therapy aims to maximize the clinical impact of ICT01 and address a wider spectrum of patient needs in cancer treatment.
Expanding Pipeline and Global Footprint
The $103 million financing extends beyond the immediate clinical development of ICT01. ImCheck is committed to leveraging this capital to accelerate the progression of additional antibody candidates within its pipeline. These candidates are being developed for immuno-oncology applications, as well as for autoimmune and infectious diseases, highlighting the broad applicability of ImCheck’s butyrophilin-targeting technology. Moreover, the funding will facilitate the company’s readiness for pivotal studies of ICT01 and enable the expansion of its clinical operations and regulatory affairs teams in both Europe and the United States, signaling a strategic move towards global accessibility of its therapies.
Investor Confidence in Novel Immunotherapy Approach
Pierre d’Epenoux, CEO of ImCheck Therapeutics, emphasized the significance of this funding round, stating, “In a highly challenging funding market, we have secured a significant fundraising through the addition of highly strategic and valuable investors from the U.S. and Europe, putting us in a position to further deliver on the immense promise of our pipeline.” He further highlighted the unique potential of butyrophilins, ImCheck’s proprietary targets, for immunomodulation across both innate and adaptive immune systems, and welcomed the investment from The Leukemia & Lymphoma Society Therapy Acceleration Program® as a validation from the patient advocacy community.
Florent Gros, Partner at Earlybird, commented on ImCheck’s differentiated approach: “ImCheck’s approach to immuno-oncology is highly differentiated through the clinical demonstration of gamma-delta T cell activation… ImCheck’s innovative concept for immunomodulation could be a game-changer for a range of indications.” Raphaël Wisniewski, Partner at Andera Partners, echoed this sentiment, noting, “ImCheck Therapeutics is pioneering the next generation of these immunotherapeutics… We at Andera Partners are confident the company will move its groundbreaking technology forward to meet patients’ needs in a range of cancer indications with wider potential for auto-immune and infectious diseases.”
Harnessing the Power of Gamma-Delta T Cells
ImCheck Therapeutics is at the forefront of developing immunotherapies that overcome tumor resistance by targeting butyrophilins (BTNs), a novel superfamily of immune checkpoint targets. This innovative approach allows for the modulation of a broad range of immune cells, including gamma-delta T cells, bridging innate and adaptive immune responses. The company’s pipeline aims to harness BTN-targeting antibodies to either activate the immune system against diseases like cancer and infections, or down-regulate immunity in autoimmune disorders, showcasing the versatility of their technology.
Hans Henrik Christensen, CFO of ImCheck Therapeutics, concluded, “This enables us to further explore the ‘pipeline in a product’ opportunity we have with our lead clinical candidate, ICT01,” underscoring the extended operational runway provided by the total EUR 154 million (approximately $165 million USD cumulative) raised since the company’s inception.
