iTeos Says Adios To IDO And Eyes US IPO

An oversubscribed financing round led by new US investor MPM Capital has brought in $75m for the Belgian company. Much of it will be used to advance its potential best-in-class adenosine A2A receptor now that its IDO1 drug has been shelved.

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Go west: iTeos is heading for the US • Source: Shutterstock

Belgian biotech iTeos Therapeutics SA is heading across the Atlantic armed with $75m from a fresh funding round and a couple of promising cancer treatments.

The cash has come from an oversubscribed Series B financing which was led by MPM Capital, with participation from additional new investors HBM Partners, China's 6 Dimensions Capital and Curative Ventures. iTeos noted that all its existing backers - including Fund +, VIVES II and SRIW, as well as Pfizer Inc

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