4 Nov 2022 07:00
4 November 2022
Schroder UK Public Private Trust plc
Investment in iOnctura
Schroder UK Public Private Trust plc (the "Company") is pleased to announce it has made a €1.3 million (£1.1 million) investment in the clinical stage oncology company, iOnctura SA ("iOnctura"), as part of a convertible loan. All of the existing blue chip investor syndicate including M Ventures, INKEF Capital, VI Partners, and 3B Future Health participated in this financing.
iOnctura is a clinical-stage biotech with a portfolio of programs that each simultaneously target multiple core mechanisms involved in cancer resistance and survival. iOnctura's pioneering approach to drug development is expected to offer significant clinical benefits over the traditional approach of targeting a single pathway alone. iOnctura has progressed two therapeutic candidates into mid-stage clinical development: IOA-244, a highly selective allosteric inhibitor of PI3Kδ to treat Treg-driven tumours; and IOA-289, a highly selective, non-competitive autotaxin (ATX) inhibitor to treat cancer associated fibroblast (CAF) driven tumours.
The Company is committed to improving its sustainability profile and intends to disclose, where appropriate, the United Nations' Sustainable Development Goals ("SDGs") associated with new investments. The investment in iOnctura is in line with SDG 3 "Good health and well-being", specifically Target 3.4 "Reduce mortality from non-communicable diseases and promote mental health" and Target 3.B "Support research, development and universal access to affordable vaccines and medicines".
Tim Creed and Roger Doig, Portfolio Managers of the Company, jointly commented: "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-investors".
Enquiries:
Schroder Investment Management Limited
Augustine Chipungu (Press) | 0207 658 2106 |
John Spedding | 0207 658 3206 |