HELSINKI and NAPLES, Italy and PERTH, Australia, March 10, 2025 (GLOBE NEWSWIRE) — Valo Therapeutics Oy announces that it has successfully secured a financing round of €19 million, part of which was raised in Europe and part in Australia, to clinically develop its innovative immune therapy for cancer.
An investment round of €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 €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 €19 million.
Valo Therapeutics Oy is a Finnish company, of which one of the founders, Prof. Vincenzo Cerullo, is from Naples, developing a novel cancer immunotherapy designed to treat cancer patients. 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. PeptiCRAd is an innovative 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.
David Hinton, Chair of Valo, commented, “We are very excited to secure this investment and be backed by Indaco Venture Partners, via the specialized Biotech fund, and two large Italian Institutional investors, CDP and ENEA Tech e Biomedical. This funding will allow Valo to undertake clinical trials in the South of Italy and Australia. Looking more longer term, this funding will also allow us to scale-up development – an …
