iOnctura Secures €80 Million in Series B Financing to Advance Rare Eye Cancer Treatment

1. Financing Amount: iOnctura has raised €80 million in Series B financing.
2. Lead Investor: The financing round was led by new investor Syncona Limited.
3. Participating Investors: The European Innovation Council Fund, M Ventures, Inkef Capital, VI Partners, Schroders Capital, and 3B Future Health Fund also participated in the financing round.
4. Purpose of Financing: The funds will be used to accelerate the development of roginolisib for the treatment of uveal melanoma (UM), a rare cancer of the eye with few available treatments.
5. Roginolisib: Roginolisib is the first allosteric modulator of PI3Kδ, with a unique chemical structure and binding mode, and has demonstrated promising efficacy in uveal melanoma.
6. Market Potential: The uveal melanoma market is projected to be worth USD 9.56 billion by 2032.
7. Clinical Trials: Randomized Phase II trials are planned to start in late 2024 in uveal melanoma and other cancers, including non-small cell lung cancer and primary myelofibrosis.
8. Company Overview: iOnctura is a clinical-stage biopharmaceutical company developing precision oral small molecules that target neglected and hard-to-treat cancers.