28th January 2022
Following their phase I trial for Myc inhibitor, OMO103, EIT Health-supported Peptomyc are seeking funds to take their novel therapy to phase II. The Spanish start-up is looking to raise 25 million euros to trial OMO103 in non-small cell lung cancer, triple-negative breast cancer and colorectal cancer, and is expected to begin later this year.
Since its founding in 2014, EIT Health has supported Peptomyc in a number of ways, recognising the need for new and novel therapies that can help to improve treatments available to those diagnosed with cancer. Currently, nearly nine million people die from cancer around the world each year and there is an expected 25 per cent increase in cancer cases in Europe over the next decade. Lung, breast and colorectal cancer are the three most deadly forms of cancer and are also the most common; representing over half of cancer diagnoses in Europe.
Inspired by her studies, founder Dr Laura Soucek began focussing on the potential of a protein called Myc, which she believed could act as ‘a universal cancer therapy’ because it plays an important role in the survival and proliferation of cancer cells. After being able to prove that her theory was possible, Dr Soucek came to EIT Health to help her gain access to funding, support on developing her skills in turning her theory into a business model and connecting with corporate partners and investors. Her ground-breaking work could lead to an entirely new approach in treating cancer.
Learn more about Dr Soucek’s story:
“It is truly inspiring to be able to watch Peptomyc go from strength-to-strength having been supporters of the team from the very early stages. The belief and dedication of Laura and the team in following a new path with the aim of finding new and novel therapies is the very scientific and entrepreneurial spirit we promote here at EIT Health. The hard work is paying off as Peptomyc navigates through more and more stages of the research and development journey, and we wish them the very best of luck with the phase II trial,” said Jan-Philipp Beck, CEO, EIT Health.
Since the early-stage support provided by EIT Health, Peptomyc has gone on to raise 17 million euros from private financing and six million euros from public institutions and continues to draw interest from the medical and investor communities alike.
European Commission, Europe’s Beating Cancer Plan. [online] Available at: https://ec.europa.eu/commission/presscorner/detail/en/ip_21_342 [Accessed 27 January 2022]
The Cancer Atlas. 2022. Europe. [online] Available at: https://canceratlas.cancer.org/the-burden/europe/ [Accessed 27 January 2022].
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