Integrated cancer biotech Infinitopes secures £12.8m seed financing to enhance its Precision ImmunomicsTM antigen discovery technologies to target five more cancers

Funding also supports the start of phase I/IIa study for lead vaccine, ITOP1

Oxford, UK (April 30th, 2024) – Infinitopes Precision Immunomics, an integrated cancer biotech combining world leading platforms in precision antigen discovery with vaccine vectors capable of durably stimulating protective immune responses, today announced the completion of a £12.8m seed funding round led by Octopus Ventures. The round was heavily oversubscribed, also drawing in funds from Cancer Research Horizons, Cancer Research Institute, CRIS Cancer Foundation, Kindred Capital, Manta Ray, Martlet Capital, Meltwind Advisory, Saras Capital, Wilbe Capital, and expert angel investors. The total funds raised combine new equity investment and a prestigious non-dilutive award from Innovate UK’s Future Economy Investor Partnership scheme.

Right targets, right vectors, right patients, right time

Since incorporation in 2021, Infinitopes has moved swiftly to cement its leadership position in cancer vaccines by overcoming three key challenges in the field. Firstly, using its Precision Immunomics^TM antigen discovery technologies, the Company can identify and rank tumour signatures, without prior bias, enabling the accurate selection of novel, synergistic tumour targets. Secondly, Infinitopes continues to develop safe and effective, proprietary vector delivery systems, capable of stimulating durable T-cell responses necessary to prevent the recurrence of life-threatening cancer metastases. Finally, the Company leverages its deep knowledge of immunology, partnering with disease KOLs, in order to optimally schedule therapies to drive maximal protection for patients.

Lead phase I/IIa on schedule to begin this autumn

Infinitopes’ lead asset, a novel cancer vaccine called ITOP1, is scheduled to commence a phase I/IIa study in first line cancer patients in the third quarter of 2024. This rapid transition into the clinic has become possible after receiving an Innovative Licensing & Access Pathway (ILAP) innovation passport from the UK’s Medicines & Healthcare products Regulatory Agency (MHRA) in August 2022. 

Best-in-class antigen discovery

The new investment accelerates the installation of best in class, next generation LC-MS/MS mass spectrometer equipment, enhancing the company’s proprietary tumour antigen discovery and computational immunobiology/AI/machine learning techniques, to identify and rank the best target combinations, to treat five more cancers.

Supported by Cancer Research UK

Infinitopes is a Cancer Research UK (CRUK)-led spinout from Oxford University, combining underlying technologies, know-how, patents and licenses that were developed with CRUK funding across the laboratories of Professor Paul Klenerman and Associate Professor Nicola Ternette, and clinical programmes led by Professor Mark Middleton.

Jonathan Kwok, CEO and co-founder of Infinitopes said:

Since founding in September 2021, Infinitopes has established world leading capabilities to design, develop, and clinically evaluate an exciting new class of precision targeted, durable cancer vaccines. Our therapies are emerging at a time when blockbuster checkpoint inhibitors are hitting their peak, capable of preventing tumour recurrence in 30-40 per cent of patients at best. Our preclinical results suggest that our vaccines may significantly outperform them, to transform care for future cancer patients. We’re excited to announce this fundraise, which enables us to pursue our uniquely integrated strategy of selecting the right targets, with the right vectors, for the right patients, at the right time in their treatment journey. We continue to seek academic and Big Pharma collaborators, smart technical investors, and passionate new hires and interns to join our mission to cure cancer.

Phil Masterson, Associate Director, Cancer Research Horizons commented:

Infinitopes is at the forefront of the cancer vaccine revolution emerging from Covid-era technology advances. Cancer Research Horizons’ investment strategy focuses on maximising patient impact – Infinitopes is empowering the immune system to fight the cancer metastases that cause 70 to 90 percent of cancer deaths through better targeting, better delivery mechanisms and better clinical trials.  We are delighted to support the building of a leading company based on innovative CRUK-funded foundational science.

Hugo Villanueva, Octopus Ventures, said:

At Octopus Ventures, we back the entrepreneurs who are revitalising healthcare. The Infinitopes team is a great example of this ─ their work to design, develop and clinically assess novel cancer vaccines is incredibly important, and we’re delighted to support them in their work to combat cancer.

John W Cassidy, General Partner, Kindred Capital, added:

At Kindred, we don't just invest; we partner with trailblazers who reimagine the future. Infinitopes exemplifies this spirit, weaving together scientific acumen with technological foresight to architect the next frontier in cancer care. This significant funding milestone underscores our collective commitment to empower healthcare innovation that promises not only to challenge the current paradigms but to redefine them. Infinitopes is charting a bold course towards a world where cancer is no longer a formidable foe but a conquerable condition. We are delighted to support them in this mission.

Julia Schrameier, Investor at Manta Ray, added:

Our initial investment in Infinitopes in December 2022 was driven by our strong conviction that they were the right team at the right time to create a leading computational, proteomics-driven antigen discovery platform. Their focus on accessible, non-personalised treatments, combined with the team's deep scientific expertise and remarkable track record, distinctly set them apart from other companies in the space. After observing their impressive progress and growth over the past year, our conviction has only strengthened. Working with Jonathan and his team has been remarkable, and we are excited to follow our initial investment and continue supporting Infinitopes on its journey to cure cancer, one epitope at a time.

Infinitopes presented at the 8^th Immuno Oncology Europe (London, April 23-25) and Immuno’24 (London, April 25-26) last week, and will attend the 7^th European Neoantigen Summit (Amsterdam, April 29-May 1), and BioEquity (San Sebastián, May 12-14).

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For further information, contact:

Jonathan Kwok, CEO
Infinitopes Precision Immunomics
opportunities@infinitopes.com

Powerscourt Group (media enquiries): 

Sarah MacLeod, Adam Michael, Molly Ring
infinitopes@powerscourt-group.com
+44 (0)20 7250 1446

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Notes to editors

About Infinitopes 

Infinitopes Ltd is a soon to be clinical stage, integrated cancer biotechnology company supported by Cancer Research UK (CRUK) and the University of Oxford. The Company combines two world leading platforms, in precision antigen discovery and in high efficiency, vector delivery systems, to develop immunologically durable vaccines for use against multiple solid tumour indications. The lead vaccine candidate is expected to begin phase I/IIa trials in Q3 2024. Infinitopes has cultivated in-house talent across antigen discovery, immunology, vaccinology, oncology, biomanufacturing, trials and regulation, winning an ‘Innovative Licensing and Access Pathway’ (ILAP) innovation passport from the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) in 2022. Infinitopes has also won two prestigious, maximum size nondilutive awards from Innovate UK, a Cancer Therapeutics Award (in 2022) and a Future Economy Investor Partnership (in 2023). In 2024, the company closed its £12.8 m seed financing. Since incorporation, the Infinitopes team has grown from three co-founders to 28 full time equivalents, and is now the largest tenant of Oxford University's BioEscalator Innovation Building. For more information, visit www.infinitopes.com

About Cancer Research UK

Cancer Research UK is the world’s leading cancer charity dedicated to saving lives through research, influence and information. Cancer Research UK’s pioneering work into the prevention, diagnosis and treatment of cancer has helped save millions of lives. Cancer Research UK has been at the heart of the progress that has already seen survival in the UK double in the last 50 years. Today, 2 in 4 people survive their cancer for at least 10 years. Cancer Research UK wants to accelerate progress and see 3 in 4 people surviving their cancer by 2034. Cancer Research UK supports research into the prevention and treatment of cancer through the work of over 4,000 scientists, doctors and nurses. Together with its partners and supporters, Cancer Research UK is working towards a world where people can live longer, better lives, free from the fear of cancer. 

About Cancer Research Horizons

‍Cancer Research Horizons is the innovation engine of Cancer Research UK – the world's largest charitable funder of cancer research. We bring together world-leading minds, bold ideas and the right partners to bridge the gap between academic research and taking drugs to market. We focus on the tougher, more profound ideas that can lead to true innovation, translating them into effective treatments and diagnostics for cancer patients.  To date, we've played an instrumental role in forming over 70 spin-out companies. We've helped bring 11 cancer drugs to market, borne out of Cancer Research UK's pioneering research. Through these drugs, we have enabled in excess of 6 million courses of treatment for cancer patients across the world.  With access to Cancer Research UK's network of 4,000 exceptional researchers, and £400+ million of annual research spend, we're a powerful partner in the fight to conquer cancer. By uniting our commercial partnerships and therapeutic innovation capabilities, Cancer Research Horizons is uniquely placed to support translational funding, entrepreneurial development, licensing and collaboration, spinout creation, and offer a full spectrum of drug discovery and clinical capabilities. Every penny we make goes back into funding the next bold steps, to help bring forward the day when all cancers are conquered. 

About Octopus Ventures

Octopus Ventures is one of the largest and most active venture capital investors in the UK and Europe, investing in and supporting the people, ideas, and industries that are changing the world. It has built expertise across seven sectors: biotechnology and healthcare, B2B software, climate tech, consumer tech, deep tech and fintech, and has backed more than 180 businesses across the UK and Europe, including successes like Zoopla, WaveOptics, and Depop. Octopus Ventures invests in people and teams from as early as ideas on a page all the way through to the later stages of growth, providing capital, expertise, and partnership. Octopus Ventures manages £1.9 bn for retail and institutional investors and invests £200m yearly. It is part of Octopus Investments, an investment company investing in the people, ideas and industries that will change the world. Hear from Octopus Ventures experts at www.octopusventures.com

About Kindred

Kindred Capital is a London-based venture capital fund investing in pre-seed and seed stage companies that are shaping the world we want to live in. Kindred backs Europe and Israel-based entrepreneurs building globally ambitious businesses, and has invested in some of Europe's most exciting companies, including Paddle, RobCo, Farewill, Cradle.bio, LabGenius, and others. The team brings a combination of deep operating, founding, and investing experience, and provides strategic support to help early-stage founders succeed. Kindred has a unique economic model called equitable venture, where Kindred shares 20% of the carry with entrepreneurs they invest in.

About Innovate UK

Innovate UK, part of UK Research and Innovation (UKRI), is the UK’s innovation agency. It works to create a better future by inspiring, involving and investing in businesses developing life-changing innovations. Its mission is to help companies to grow through their development and commercialisation of new products, processes and services, supported by an outstanding innovation ecosystem that is agile, inclusive and easy to navigate.