On January 15, 2025 ONCOMATRYX, a biopharmaceutical company developing novel antibody-drug conjugates (ADCs) against the tumor microenvironment, reported the company successfully raised €25 million to fund Phase Ib–II clinical trials of OMTX705, a first-in-class ADC targeting Fibroblast Activation Protein (FAP).

The funding round was led by the company’s existing investors and included a €10 million strategic investment from the Centro para el Desarrollo Tecnológico y la Innovación (CDTI) through its Innvierte Estrategico program.

The financing is intended to support the continued clinical development of OMTX705 and enable the company to execute important clinical milestones.

OMTX705 is an ADC targeting FAP expressed by cancer-associated fibroblasts (CAFs) within the tumor microenvironment. The company planned to present Phase I clinical results of OMTX705 at major oncology conferences during 2025.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

(Press release, Oncomatryx, JAN 15, 2025, View Source [SID1234670595])