Satt AxLR-allied Phost'in Therapeutics has secured funding to progress cancer drugs targeting glycosylation and the body's immune system.
Phost’in Therapeutics, a France-based cancer therapy developer and portfolio company of regional tech transfer office Satt AxLR, has attracted €10.3m ($11.1m) in a series A round led by cross-border venture firm Remiges Ventures.
The deal was rounded off by investment firms Anri and Irdi Soridec Gestion.
Founded in 2014, Phost’in Therapeutics is developing cancer drugs that inhibit an enzymatic process called glycosylation in which glycans attach to sugar-binding proteins and form a web to conceal tumour cells from the body’s immune system.
The series A money will be deployed to further PhOx340’s clinical development and to extend the scope of Phost’in’s underlying technology, which it says has capacity to treat multiple additional indications.
Hitoshi Ono, venture partner at Remiges Ventures, has joined the board of directors, and Remiges has also nominated Richard Meadows, former managing partner at CTI Life Sciences Fund, as a director on its behalf.
Phost’in Therapeutics stems from patents owned by University of Montpellier, Centre National de la Recherche Scientifique, Ecole National Supérieure de Chimie de Montpellier, Université Sorbonne Paris-Nord and Université Paris Saclay.
