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Sound Bioventures announces investment in Theolytics

Sound Bioventures participated in the financing round, which raised a total of USD 24.5 million, and joins an existing investor syndicate comprising M Ventures, Taiho Ventures, Epidarex Capital, Oxford Science Enterprises and the University of Oxford.

In conjunction with this financing, Thomas Tan, Principal at Sound Bioventures, will join Theolytics’ Board of Directors.

Read more: Casper Breum, Sound Bioventures, predicts 2024

“The oncolytic virus modality is rapidly evolving, and we believe that Theolytics is well positioned at the forefront of this exciting therapy area. With THEO-260 about to enter the clinic, we see a significant opportunity to help bring an important and potentially practice-changing therapy to the many women suffering from this fatal disease. I look forward to working with the Board and management team bringing our hands-on approach to support the company’s unwavering fight against cancer,” says Thomas Tan, Principal at Sound Bioventures.

Next-generation oncolytic viral therapies

Theolytics is a UK biotechnology company developing next-generation oncolytic viral therapies. Proceeds from the new financing will further strengthen its position as it advances its lead oncolytic adenovirus – THEO-260 – into clinical trials in ovarian cancer, it states. The first trials are planned for 2024 and will aim to demonstrate safe, effective administration, and provide insight into the candidate’s dual cancer/cancer-associated fibroblast-killing and immunomodulatory mechanism of action when administered by intravenous or intraperitoneal routes in platinum-resistant ovarian cancer patients.

“We’re on the brink of a potential step-change for the oncolytic adenovirus field. Our lead asset THEO-260 will be entering the clinic this year, and at this key juncture we are pleased to complete this significant financing and welcome Sound Bioventures as a new investor alongside our existing investors. Sound Bioventures’ extensive oncology experience, network, operational expertise and collaborative approach will bring important benefits to Theolytics and I am delighted to welcome Thomas Tan to our Board,” says Charlotte Casebourne Stock, Chief Executive Officer of Theolytics.

Photo of Thomas Tan: Ola Torkelsson/Sound Bioventures