Strüngmann Family Office invests in iOmx €65M Series B

Strüngmann family office invests in cancer therapeutics company

Athos Service GmbH is the single family office of the Strüngmann brothers. Andreas and Thomas Strüngmann are the founders of Hexal, a pharmaceutical company based in Germany. The brothers sold the company to the Swiss Novartis Group in 2005 for 7,5 billion USD and since have gone to establish two family offices. One of them is Athos Service GmbH, a private investment vehicle that primarily invests in biotech and healthcare companies. Athos Service GmbH recently participated in the Series B round of the Munich based startup iOmx Therapeutics AG. 

iOmx innovative cancer therapeutics attract investors

iOmx Therapeutics AG is a biopharmaceutical company that develops innovative first-in-class cancer therapeutics. The company has already developed several cancer therapeutics in accordance with next-generation immune checkpoint targets. With the new capital from the Series B round the company will advance the development of their lead program IMT-07 which is a SIK3 kinase inhibitor used to treat solid tumors and their IMT-18 program a innovative IGSF11 targeting antibody used to treat PD-1/PD-L1-resistant tumors. In Addition the company will advance their iOTarg high-throughput screening platform used to detect novel immune-checkpoint molecules expressed by cancer cells SIK3 and IGSF11. The IMT-07 program will enter clinical stage testing in late 2022. 

Investors back iOmx Therpeutics AG

The Series B round was financed in large parts by the Athos Services GmbH and MIG Capital AG with involvement of existing investors Wellington Partners, Sofinnova Partners and M Ventures. The total venture capital iOmx Therapeutics AG receives in the Series B amounts to 65 million Euros. 

Source: Yahoo Sport, 29.10.21
Picture Source: Christina Victoria Craft

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