iTeos Therapeutics (Nasdaq: ITOS), a private company in the portfolio of HBM Healthcare Investments, completed its planned IPO last Friday. The company raised USD 201 million in new capital by issuing 10.6 million shares at a price of USD 19.00 per share. On the first day of trading the share price closed virtually unchanged at USD 19.05 (+0.3%).
HBM Healthcare Investments has invested a total of USD 7.9 million (previously valued at USD 8.9 million) in iTeos since May 2018 and increased its stake in the IPO by a further USD 10 million. After the IPO, HBM Healthcare Investments holds 1.54 million shares with a total value of USD 29.3 million. The IPO increases the net asset value per HBM share (NAV) by CHF 1.16 (+0.5%).
About iTeos Therapeutics
iTeos Therapeutics is developing a new generation of highly differentiated immuno-oncology therapeutics. The development pipeline comprises two programs in the clinical phase. The most advanced product candidate, EOS-850, is a highly selective small molecule antagonist targeting the adenosine signaling pathway (A2A receptor antagonist), which plays a key role in immunosuppression in the microenvironment of tumors across a broad range of tumors. EOS-850 is being investigated in an open label Phase 1/2a clinical trial in adult patients with advanced solid tumours.
The lead antibody product candidate, EOS-448, is an antagonist of TIGIT (T-cell immune receptor with Ig- and ITIM domains), a checkpoint involved in both the inhibitory and stimulatory pathways in the immune system. EOS-448 is also designed to activate the Fc-gamma receptor to promote antibody-dependent cellular cytotoxicity (ADCC activity), including the elimination of tumour-infiltrating regulatory T cells (Tregs). EOS-448 is also being tested in an open label Phase 1/2a clinical trial in adult patients with advanced solid tumours.
iTeos Therapeutics is headquartered in Cambridge, MA, USA, and has a research centre in Gosselies, Belgium.
For further information, please contact Dr Andreas Wicki on +41 41 710 75 77, or at [email protected].