REG - Schroders Cap Glbl - Follow-on investment in iOnctura BV

Schroders Capital Global Innovation TrustAnnouncement

20/06/2024 07:30

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RNS Number : 0799T  Schroders Capital Global Innovation  20 June 2024

20 June 2024

 

Schroders Capital Global Innovation Trust plc

Follow-on investment in iOnctura BV

 

Schroders Capital Global Innovation Trust plc (the "Company") is pleased to
announce its second follow-on investment in iOnctura BV ("iOnctura"), a
clinical-stage biotech firm that focuses on combating neglected and
hard-to-treat cancers by developing experimental oral small molecule
treatments designed to maximise anti-tumour efficacy while prioritising
patient safety. The Company invested £1.4 million (EUR 1.7 million) in a
funding round that raised £68 million (EUR 80 million). This round was led by
new investor Syncona and saw participation from the European Innovation
Council Fund and other existing investors including M Ventures, Inkef Capital,
VI Partners, and 3B Future Health Fund.

 

In December 2023, iOnctura shared positive clinical data for roginolisib, an
oral allosteric modulator of PI3Kδ used to treat various solid and
hematologic malignancies, including uveal melanoma. The funding will be
utilised to expedite the development of roginolisib for treating uveal
melanoma (UM), a rare eye cancer. In the Phase Ib clinical trial, roginolisib
showed long-term safety and promising efficacy in UM, demonstrating sustained
clinical activity over many months. Comprehensive results will be released in
the upcoming months.

 

Moreover, the Series B financing will be used to further develop iOnctura's
pipeline asset, IOA-289 (cambritaxestat). Cambritaxestat is an autotaxin
inhibitor in clinical development for cancer treatment. It is targeted towards
highly fibrotic tumours that overexpress autotaxin. A Phase Ib study of
cambritaxestat in combination with chemotherapy in metastatic pancreatic
cancer is currently in progress.

 

This investment aligns with the Company's sub-strategy of backing innovative
life science companies at the near-clinical or clinical stage of development.
This investment follows the Company's initial £1.4 million (EUR 1.6 million)
investment in iOnctura's previous £9.4 million (EUR 11.1 million) convertible
loan note in Q3 2022. The Company's total investment in iOnctura now stands at
£2.8 million (EUR 3.3 million).

 

Enquiries:

Schroder Investment Management Limited

Kirsty Preston (Press)                    0207 658 1961

John Spedding                                0207 658 3206

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