Odimma Raises €1 million in Seed Funding and in addition Obtains €1 million from Bpifrance Deeptech Program to Advance its Personalized Cancer Immunotherapy PlatformSuccessful financing will allow preparation of first-in-man clinical trial and further research and development
Strasbourg, France, Feb 3, 2020. Odimma SAS, a French biotech company working in personalized cancer immunotherapy, today announces having closed a seed financing round of €1 million. Cap Innov’Est, a regional seed fund, led the investment round.
In addition, Odimma has been named laureate of the Deeptech program supported by the French Public Investment Bank, Bpifrance. This achievement gives Odimma access to €1 million through a grant and refundable financing.
After having obtained strong immune and anti-tumoral proof of concept in animal models, Odimma, with its proprietary immunization platform, will now prepare a first-in-man clinical trial. The main activities will focus on the regulatory and pharmaceuticals steps necessary for the conduct of clinical operations. Other planned scientific activities will be run in parallel.
“The joint decisions of Cap Innov’Est and Bpifrance to support our research and development is a strong recognition of the value of Odimma’s personalized cancer immunotherapy platform. The financing round which has been timely concluded now allows us to carry out the next steps of our development plan towards a first-in-man clinical trial,” said Jessica Matta, CEO of Odimma.
“We are delighted to contribute to the development of this promising new immunotherapeutic approach. We were actually impressed by the quality of the data and the straightforward development plan. The results obtained to date, including comparative studies with leading neoantigen-based vaccine, strengthen our confidence in Odimma’s immunization protocol,” said Virginie Miath, Investment Director at Cap Innov’Est.
Odimma is a French biotech company with a unique approach in active personalized cancer immunotherapy. By harnessing the ability of the patient’s own immune system to specifically recognize non-self-targets displayed by the tumor, also called neoantigens, Odimma has designed a potent next-generation personalized immunization platform. This proprietary platform has demonstrated its ability to induce a powerful cellular immune response against non-self-antigens as well as a strong anti-tumoral effect in tumor bearing mice. By design the immunization product can be produced in a short period of time and with no limits in the number of neoantigens to be targeted. Odimma is incubated by SEMIA, the Alsace Startup Generator and supported by the Region GrandEst. For more information, visit http://www.odimma-therapeutics.com
About Cap Innov'Est
Cap Innov’Est is a €45 M French regional seed fund (Grand Est, Bourgogne-Franche-Comté) dedicated to investing in young, innovative start-ups. It was launched in July 2014 and has invested in 25 start-ups to date. Cap Innov’Est is managed by Capital Grand Est along with its partner, Invest PME (Siparex group). Cap Innov’Est is supported by Fonds National d’Amorçage (National Seed Fund), Regions Grand Est and Bourgogne-Franche-Comté, SAFIDI, Caisse d’Epargne d’Alsace and Bourgogne/Franche-Comté, BNP Paribas and CIFC. For more information, visit http://www.capitalgrandest.eu
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra-financial services (training, consultancy...) to help entrepreneurs meet their challenges (innovation, export…). For more information, visit https://www.bpifrance.fr
Jessica Matta - CEO