Moscow, Russia – January 5, 2017 – Pharmstandard International and Inbio ventures today have announced successful completion of Series B financing in Neon therapeutics, thus adding the 10th equity investment to the portfolio. Neon is immuno-oncology company developing neoantigen-based therapeutic vaccines and T cell therapies to treat cancer. The proceeds will be used to advance the lead program, NEO-PV-01, a fully personalized neoantigen vaccine, through an ongoing Phase 1b clinical trial. In addition, this investment will support preclinical development of NEO-PTC-01, a personalized adoptive T cell program, and the Shared Neoantigen Program.
The $70 million Series B financing was led by Partner Fund Management and joined by existing investors Third Rock Ventures and Access Industries. Besides Pharmstandard International additional new investors included Fidelity Management & Research Company, Wellington Management Company and Nextech Invest.
“We are pleased to join a strong syndicate of investors,” commented Alexey Vinogradov, chief executive officer of Inbio Ventures, a management company representing Pharmstandard International S.A. “With outstanding quality of innovation and the team, Neon is poised to lead the field of neoantigen-based therapeutics, one of the most promising topics in cancer immunotherapy today.”
“The investor quality in this financing reflects the promise of the neoantigen biology platform, as well as our leading position,” said Hugh O’Dowd, chief executive officer of Neon Therapeutics.
About Neon Therapeutics
Neon Therapeutics is an immuno-oncology company focused on developing novel therapeutics leveraging neoantigen biology to treat cancer. A neoantigen-based product engine allows Neon to develop multiple treatment modalities, including next-generation vaccines and T cell therapies targeting both personalized and shared neoantigens. Neon’s lead program is a personalized neoantigen vaccine that builds upon years of research and development at the Broad Institute and Dana-Farber Cancer Institute, and is already in clinical trials. For more information, please visit www.neontherapeutics.com.
About Pharmstandard International S.A. / Inbio Ventures
Pharmstandard International S.A. – is a company with the main focus on venture investments in innovative medicines/therapies with strong potential both globally and in Russia. Pharmstandard International S.A. is a fully owned subsidiary of PJSC Pharmstandard (LSE:PHST) – Russia’s leading pharmaceutical producer. For more information, please visit: www.pharmstd.lu.
Inbio Ventures JSC – is a management company representing Pharmstandard International S.A., and providing professional support in venture transactions. For more information, please visit: http://www.inbio-ventures.com/