Schroder UK Public Private Trust PLC - London-based investment trust - Makes GBP1.1 million investment in clinical stage oncology company, iOncutura SA, as part of a convertible loan.
iOnctura is a clinical-stage biotech company with a portfolio of programs targeting multiple core mechanisms involved in cancer resistance and survival. It currently has two therapeutic candidates in mid-stage clinical development, IOA-244 and IOA-289, designed to treat Treg-driven tumours and cancer-associated fibroblast-driven tumours respectively.
Portfolio Managers Tim Creed and Roger Doig say: "iOnctura is the eleventh new investment and the third therapeutics focused private equity investment since our appointment as portfolio manager. This investment is in line with the company's focus on backing innovative businesses with disruptive innovation, significant global growth potential, high quality management teams and supported by highly reputable co-investor."
Current stock price: 16.00 pence, up 3.2% on Friday
12-month change: down 53%
By Holly Beveridge; hollybeveridge@alliancenews.com
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