Inovio Pharmaceuticals Inc (NASDAQ:INO) closed Tuesday’s trading session at $3.61 just days after its subsidiary Geneos Therapeutics announced that it managed to raise $10.5 Million in a Series A funding round.
Geneos Therapeutics recently concluded the funding round at $10.5 Million which will be used to fund the development of cancer immunotherapies. Inovio launched Geneos in August 2016 as a platform that leverages DNA immunotherapy technology to develop patient-specific neoantigen therapies. The parent company stated at the time that the platform would leverage rapid product design as well as its ability to formulate treatments using multiple neoantigens.
“Geneos holds the potential to become the leader in the development of personalized cancer immunotherapies to provide patients the chance for a cure” stated Inovio Pharmaceuticals’ Chief Operating Officer, Dr. Niranjan Y. Sardesai.
The startup plans to use the $10.5 Million raised in the recently concluded funding round to create a new generation of killer T cells that are more effective at fighting cancer cells. Santé Ventures led the investment which features a milestone, and the initial investment is driven investment option. Inovio was also one of the firms that contributed to the funding round.
A focus on neoantigens and the advantages that the Geneos platform has to offer
Dr. Sardesai also added that Geneos has the potential to become the leading developer of cancer immunotherapies that are personalized to provide patients with reliable treatments. The startup will focus on Cancer neoantigens which are genomic changes and mutations that build up as a tumor develops. They are considered the ideal targets when developing treatments that address cancer.
Geneos’ Platform is also ideal for the endeavor because it facilitates the development of treatments that are personalized to combat the unique mutations in each cancer patient. It also can deliver highly potent treatments that provoke the required immune responses. Another significant advantage of the system is that it can develop cancer treatments within days rather than months or years. This is excellent news for patients because it means they will access treatments before their condition becomes more advanced, making it harder to treat.