On September 11, 2020 Phost’in Therapeutics (Montpellier,France), a research-driven biopharmaceutical company developing N-glycosylation inhibitors as a First-in-Class immunotherapy for cancer treatment, reported that it will receive a €2.5 million funding from Bpifrance in addition to its recent Series-A round (Press release, Phost’in, SEP 11, 2020, View Source [SID1234565009]). This non-dilutive funding includes €2 million from Bpifrance’s Deeptech program, initiated by the French government, to boost highly innovative and breakthrough projects emerging from fundamental research and to strengthen the country’s competitive advantage in the field. Proceeds will be used to advance the regulatoryand early-clinical development ofPhost’in’s main program PhOx430 for the next two years. To date, Phost’in Therapeutics has raised a total of €16 million.The company has previously announced in April 2020a €10.3 million Series A round from an international syndicate of Life Science and Innovation Investors led by Remiges Ventures, providing the company resources to bring PhOx430 into clinical trials by 12 months with a focus on aggressive solid tumorssuch as Glioblastomas and Triple Negative Breast Cancers. A new and innovative player in the field of Glyco-Immuno-Oncology, Phost’in Therapeutics develops a class of highly potent anti-cancer NCEs (new chemical entities) targeting a key glycosylation mechanism responsible for immune response suppression. Karine Chorro, co-founder and CEO of Phost’in Therapeutics, said "Joining the deep tech community represents the recognition of our N-glycosylation inhibitors as a breakthrough disruptive innovation. Plus, it will enable us to largely accelerate the development of our main program PhOx430 towards clinical trials, for the full benefit of patients still suffering from very limited therapeutic options. We are very excitedto move forward in this next step with the support ofBpifrance." "At Bpifra nce,we work hard to identify and support disruptive technologies correlated with strong entrepreneurial spirit, in any world-changing fields that will be transformative for generations to come. We are enthusiastic about the cutting-edge science behindthe program,coming from years of academic researches in several top-level French institutes, and strongly believe in Phost’in’s capacity to deliver its first-in-class candidate to patients suffering from rare and aggressive cancers" noted Nadine Faedo, Regional Director at Bpifrance. "Therefore, we foresee Bpifrance as a long-term partner of choice for Phost’in to install its leadership in the field of Glyco-Immuno-Oncology".
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