Ona Therapeutics captures 74.2 million euros to accelerate its cancer drugs
The Catalan biopharmaceutical company closes a Series B round led by Columbus Venture Partners and Mérieux Equity Partners
BarcelonaThe Catalan biopharmaceutical Ona Therapeutics has closed a Series B funding round of 74.2 million euros to continue developing its cancer treatments. The new capital injection has been co-led by Valencian investor Columbus Venture Partners and French manager Mérieux Equity Partners, in addition to the public Cofides and the family office Korys. Current partners also participated: Asabys Partners, Alta Life Sciences, Bpifrance, CDTI, FundPlus NV, and Ysios Capital.
Ona is a spin-off from the Barcelona Biomedical Research Institute (IRB) and the Catalan Institution for Research and Advanced Studies (Icrea). The company was founded in 2019, and in 2020 it already raised a first investment round of 30 million euros.
The new funds will serve to finance two programs to advance oncological treatments. The biopharmaceutical's main program, ONA-255, is focused on the fight against breast cancer, and ONA-389 treats colorectal cancer. In the first case, resources will be allocated to boost its clinical development; while, in the second, the company expects to approach the first human studies.
Ona Therapeutics focuses its research on therapies known as antibody-drug conjugates; a type of treatment that combines antibodies with drugs to better attack the disease. The company's founder and CEO, Valerie Vanhooren, emphasizes the "commitment to tackling hard-to-treat cancers through significant innovation".
A "decisive moment" for the company
According to the company, the new funding "arrives at a decisive moment," close to the clinical phase of ONA-255. In this regard, Vanhooren celebrates having "brought together high-quality investors who share the conviction" of Ona Therapeutics. The company is working on a product pipeline "in indications with significant unmet medical needs," which will help treat "patients with limited therapeutic options."
As part of the new round, Columbus Venture Partners' partner, Jose Mesa; Mérieux Equity Partners' managing partner, Valérie Caneda; and Korys's senior director of Investments, Eva Van Overmeire, will join the Catalan company's board of directors.
Mesa has praised the combination of "world-class science and a clear path to clinical impact" offered by the company. According to the investor, Ona's research "addresses one of the most significant challenges in oncology." In this regard, from an investor's perspective, it offers "an attractive opportunity to build a differentiated platform."
For their part, Calenda highlighted "the breadth of pipeline opportunities and the team's clear vision bring great confidence in the company's long-term potential." "The team's clear vision to translate innovative biology into relevant therapies brings great confidence in the company's long-term potential," concluded the future member of Ona Therapeutics' board.