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IFM Therapeutics raises USD27m Series A financing led by Atlas Venture and Abingworth

Biopharmaceutical company IFM Therapeutics has closed a USD27 million Series A financing led by Atlas Venture and Abingworth, with participation from Novartis. 

In conjunction with the funding Jean-François Formela and Vincent Miles, Partners at Atlas and Abingworth respectively, have joined IFM’s CEO, Gary D. Glick, on the board of directors, with Dr. Formela serving as chair of the board.

IFM Therapeutics raises USD27M Series A to develop novel immune modulators for cancer and inflammatory diseases

IFM Therapeutics, incubated as a part of the Atlas Venture seed program, is developing modulators of novel targets that either enhance innate immune responses for treating cancer, or dampen certain immune responses that drive many inflammatory diseases. The company will use the proceeds of the financing to advance and expand its early-stage portfolio and begin clinical development of its most advanced product candidate, a selective activator of a novel target, for treating solid tumours.

“While proteins in the innate immune system represent an attractive landscape of therapeutic targets, they have been notoriously difficult to drug,” says Dr Formela from Atlas. “During the brief period since its founding, IFM has made excellent progress on several of these targets, reflecting its exceptional team of experienced scientists and executives, possessing expertise in medicinal chemistry, a deep understanding of the relevant biology, and relationships with academic thought leaders in the areas of immunology and immune oncology.”

“IFM’s programs have the potential to make a major difference in the lives of patients with serious, and sometimes fatal, diseases,” says Abingworth’s Dr Miles. “We look forward to helping the team build on their strong start to advance these programs into clinical development.”

“This financing is an important validation of the IFM team and technology,” says Dr Glick, IFM’s Co-founder and CEO. “The company is fortunate to be working with a talented and experienced group of investors. Their expertise in building world-class biopharmaceutical companies will be invaluable as we grow the company.”

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