VIVES Portfolio Company iTeos Therapeutics, a Spin-Off of UCL and LICR, Strengthened by an Oversubscribed Series B Fundraising of 64 Million Euros - Seite 2

"We are grateful to all those who believed in our potential from the very beginning, and continue to follow us, as well as to our new investors. This new round validates our leadership in the field of immuno-oncology and will allow us to pursue our strategy based on the discovery and development of new drugs," commented Michel Detheux, co-founder and CEO of iTeos .

"This fundraising is one of the largest ever realized in Europe for a university spin-off," said the rector of UCL Vincent Blondel. The fight against cancer is one of the greatest challenges of the 21st century. I am pleased to see that the academic world can put its expertise to the benefit of this cause. And this thanks to the VIVES Fund, which links researchers to the needs of society.

"This exceptional fundraising illustrates the key role of the University and its related seed fund, VIVES fund, in the development of new technologies responding to the societal challenges," adds Bruno van Lierde, Chairman of the Board of Directors. Sopartec SA, technology transfer company of UCL and managing company of the VIVES Fund.

About VIVES 

VIVES Louvain Technology Fund is a technology investment fund that invests in spin-offs of the University of Louvain (UCL) and start-ups both in Belgium as in neighboring countries. VIVES II is funded to the tune of 43 million euros by a dozen of Belgian and European investors such as the European Investment Fund(FEI), SFPI-FPIM, BNP Paribas, BPI France, ING Belgium, Sofina, AXA Belgium, Belfius, IRD (France), Nivelinvest, Region of Brussels capital and Sopartec (UCL).

VIVES has invested in 17 companies which, together, brought together more than 230 million euros through public and private funding. VIVES has already made two exits.

About ITeos Therapeutics SA 

iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to extending and improving the lives of cancer patients by designing and developing next generation immunotherapies. The Company is advancing EOS100850, an insurmountable and non-brain penetrant adenosine A_2A receptor antagonist, into a Phase I trial in the second half of 2018. A second program for its human ADCC-enabling anti-TIGIT antibody (EOS884448) is expected to enter the clinic in 2019. The company is currently also evaluating its EOS200271 program, a clinical-stage potent and selective IDO1 inhibitor. Based in Gosselies, Belgium, iTeos Therapeutics was founded out of the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute at the Université catholique de Louvain (UCL), in 2011, with funds from the LICR, Fund+, VIVES II-Louvain Technology Fund, private investors, the Walloon Region of Belgium and the European Fund for Economic and Regional Development (FEDER). For more information, please visit http://www.iteostherapeutics.com.