Livzon Pharmaceutical Group has been identified as an investor by MIT spinout Elicio Therapeutics, which just completed a series B round that takes its total financing to $63m.
Elicio Therapeutics, a US-based immuno-oncology therapy spinout of Massachusetts Institute of Technology (MIT), closed a $33m series B round on Wednesday, naming pharmaceutical group Livzon among its investors.
The company said investment firm Clal Biotechnology Industries and life sciences-focused venture capital firm Efung Capital are also part of its investor base, without confirming their participation in the latest round.
Elicio is developing cancer immunotherapies aimed at the lymph node, utilising its propietary Amphiphile platform, which allows immunogens and cell-therapy activators to be accurately targeted and delivered.
The company launched in March this year with $30m from undisclosed investors. Its technology is based on work by Darrell Irvine, a professor of biological engineering and materials sciences at MIT.
The series B proceeds will go to advancing a range of product candidates including ELI-002, a vaccine aimed at the seven mutations in the KRAS gene which can…
