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Epitopea Closes USD $31 million Pre-Series A Financing

CAMBRIDGE, United Kingdom and MONTREAL, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Epitopea, a transatlantic cancer immunotherapeutics company developing accessible off-the-shelf RNA-based immunotherapies, announces the closing of a USD $31 million pre-Series A financing.

The pre-Series A financing brings the total capital raised by Epitopea to over USD $45 million. New investors Investissement Québec, adMare BioInnovations and Jonathan Milner join existing investors Advent Life Sciences, CTI Life Sciences, Cambridge Innovation Capital, Fonds de Solidarité FTQ, the Harrington Discovery Institute, IRICoR and Novateur Ventures, all of whom also participated in this financing round.

Dr. Alan C. Rigby, Epitopea's CEO, said, "We believe that more durable cancer therapies are needed to transform the lives of cancer patients diagnosed with hard-to-treat solid tumors where overall survival is still poor for most patients. We continue to make significant strides toward the clinic, which has strengthened investor enthusiasm, and resulted in an over-subscribed pre-Series A in support of our forward-looking mission and vision. This additional financing will support strategic pre-clinical discovery in solid tumors of interest while accelerating our near-term clinical development plans for Epitopea's next generation, tumor selective, off-the-shelf, RNA-based immunotherapies that we believe have the potential to extend the durability of clinical response in patients."

"In this round we would like to warmly welcome new investors Investissement Québec, adMare BioInnovations and Jonathan Milner, whose participation complements the continued passionate support of our existing transatlantic investor syndicate. This pre-Series A raise provides the necessary finances to accelerate our development campaigns and transition to a clinical-stage company with a focused commitment of delivering our transformational RNA cancer immunotherapy into the clinic in 2026," he added.

Satish Jindal, Ph.D., General Partner with Advent Life Sciences added, "As a founding investor of Epitopea, we are pleased to continue our robust support of the company ...