These non-dilutive funds, granted as part of France 2030 plan, will enable Apmonia Therapeutics to initiate clinical trials with its TAX2 drug candidate in various solid tumors, while strengthening its portfolio of products in development.
Reims, April 24, 2024 – Apmonia Therapeutics, a biopharmaceutical company developing innovative cancer therapies, announced today that it has secured additional non-dilutive financing for a total of €2.7M. This new financing is part of France 2030 investment plan. Apmonia Therapeutics is one of the winners of the 11th edition of the i-Nov Innovation Contest (operated by Bpifrance), and will receive the largest amount of funding (€2.2M) among the 42 prizewinners. Additional funding (€0.5M) will be
granted as part of the regionalized Plan d’Investissement d’Avenir (PIA4), co-financed by the Grand-Est Region and the French Ministry of the Economy, Finance and Sovereignty.
Including previous fundraisings and financing already obtained, a total of €11M has been leveraged for the development of Apmonia Therapeutics’ technological platform.
A first clinical trial in patients with solid tumors, and a pioneering position in a new therapeutic class in oncology
Awarded a prize in the i-Nov competition, Apmonia Therapeutics’ INOTAX project aims to bring new therapeutic solutions to the medical need for solid tumor cancers. The company has identified and developed the first-in-class drug candidate TAX2, a peptide that acts as a modulator of the tumor
microenvironment by targeting the TSP-1/CD47 interaction.
At the same time, Apmonia Therapeutics’ scientific teams are working to develop new peptide-based therapies targeting the tumor microenvironment. Using advanced in silico technologies, the company
aims to identify new therapeutic targets and optimize the design of antagonistic peptides. This new financing will enable Apmonia Therapeutics to industrialize its drug discovery capabilities to accelerate
the development of new drug candidates.
“We are delighted to have won the i-Nov innovation contest, which testifies to the strong potential of our technological platform and our original approach”, says Dr. Albin Jeanne, President of Apmonia Therapeutics, adding “This funding is a new milestone and a strong signal as Apmonia Therapeutics prepares to start its first clinical trial. It will also enable us to strengthen the development of our product pipeline, with potential applications in various pathologies”.
“Bpifrance is proud to once again support one of France’s DeepTech nuggets, which has already been recognized on numerous occasions. Apmonia Therapeutics has an original technology and a management team whose expertise is widely recognized, and the funding granted today under both
the i-Nov innovation competition and the 4th Plan d’Investissement d’Avenir aims to foster the emergence of Apmonia Therapeutics as a leading company in its field, by supporting two strategic axes: clinical development prior to industrial and commercial launch, and portfolio diversification”, explains
Lucie Jolibois, in charge of innovation at Bpifrance’s Champagne-Ardenne Regional Office.
About Apmonia Therapeutics:
Apmonia Therapeutics is a biotechnology company developing a pipeline of targeted therapies for various solid cancers, based on specific and selective targeting of the tumor microenvironment. Leveraging recent advances in protein and peptide computational engineering, as well cutting-edge
screening and validation technologies, Apmonia Therapeutics is particularly focused on developing new therapies for patients with difficult-to-treat solid cancers.
www.apmonia-therapeutics.com
About the i-Nov innovation competition:
The “i-Nov Innovation Contest” call for projects is a support scheme financed by France 2030, which aims to select innovation projects with high potential for the French economy. The 11th wave received 149 applications, and today rewards 42 winning projects for a total of 43.4 million euros in funding, based on 4 themes (disruptive digital technologies – health of the future – transport, mobility, sustainable cities and buildings – energy, resources and natural environments).
https://presse.economie.gouv.fr/france-2030-annonce-des-42-laureats-de-la-11eme-vague-duconcours-
dinnovation-i-nov/
About Bpifrance:
Bpifrance provides financing to companies – at every stage of their development – providing credit, guarantees and equity capital. Bpifrance supports them in their innovation and international development projects. Bpifrance also facilitates their export activities through a wide range of
products. Consulting, university programs, networking opportunities and acceleration programs for startups and SMEs are also part of the services offered to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, unique and efficient partner to help them meet their challenges.
For more information, visit: www.bpifrance.fr – https://presse.bpifrance.fr/
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