Valo Therapeutics Announces €11m Fundraise to Advance PeptiCRAd Immunotherapy Platform into the Clinic Co-founder Dr Sari Pesonen, Head of R&D, promoted to CSO
Helsinki, Finland, 15 November 2021: Valo Therapeutics Oy (Valo Tx), the developer of novel, adaptable immunotherapy platforms for cancer and infectious diseases, today announced it has successfully raised Euro 11 million (around USD 12.75 million) in an oversubscribed Pre-IPO funding round. Corporate advisory firm Ironside Capital acted as lead manager for Valo Tx. The Pre-IPO fund included participation from existing investors, Freeman Road, and new investors, including ASX-listed MMJ Group Holdings. The total raised to date is now over Euro 22 million (around USD 25.5 million). The majority of the proceeds will be used to finalise preparations and initiate a Phase 1 clinical study of the company’s lead tumour antigen-coated oncolytic virus candidate, PeptiCRAd-1, in addition to the continued development of the anti-infectives platforms including PeptiBAC and PeptiVAX. The proceeds will also be used to support the preparation of Valo’s IPO in 2022.
