An investment round of EUR 13 million was co-led by Indaco Venture Partners and CDP Venture Capital SGR with the support of Fondazione ENEA Tech e Biomedical. They join the completed EUR 6 million investment round from Australian investors, supported by major shareholder Freeman Road, the investment entity of current Director Dr Paul Porter, bringing the total fundraising up to EUR 19 million.

Italy

This funding will enable Valo to expand and complete the Phase 1B clinical study of the company’s lead tumour antigen-coated oncolytic virus candidate, they state. PeptiCRAd is a cancer immunotherapy platform designed to enhance anti-tumour immune responses in patients with solid tumours. The clinical trials will be performed in three different countries, Italy, Australia and Germany.

Part of the investment round will be invested in Italy and allocated to the activities of the newly created Italian operating company, Valo Therapeutics Italy Srl, which will be based in Naples, with the aim of carrying out specific activities in the territory of Southern Italy such as (i) enrolling and treating patients in Southern Italy, (ii) initiating the large scale manufacturing of virus supporting product development up to the commercial phase, and (iii) supporting research activities in Institutions based in Naples and south of Italy.

This investment represents a great opportunity to strengthen the biotech innovation ecosystem in Italy.

“We are thrilled to support Valo Therapeutics in this significant step of its growth journey, marked by the opening of a new research and development center in Naples. This investment represents a great opportunity to strengthen the biotech innovation ecosystem in Italy, harness local talent, and contribute to the development of cutting-edge solutions in cancer immunotherapy. We strongly believe in Valo Therapeutics’ vision and the potential of their PeptiCRAd platform to revolutionize cancer treatment,” says Francesca Ottier, Senior Partner and Head of Italia Venture II Fund of CDP Venture Capital Sgr.