The latest announcement is out from IO Biotech ( (IOBT) ).
IO Biotech has secured a loan facility of up to €57.5 million from the European Investment Bank to advance its immune-modulating therapeutic cancer vaccines, including IO102-IO103. The loan, which is structured in three committed tranches totaling €37.5 million and an uncommitted €20 million tranche, is expected to extend the company’s cash runway into the second quarter of 2026, aiding in the pre-commercialization of its lead product and other pipeline candidates.
More about IO Biotech
IO Biotech is a clinical-stage biopharmaceutical company specializing in the development of novel, immune-modulating therapeutic cancer vaccines. The company’s lead candidate, IO102-IO103, is designed to target immunosuppressive cells within the tumor microenvironment and is currently undergoing several clinical trials, including a pivotal Phase 3 trial in combination with pembrolizumab. IO Biotech is headquartered in Copenhagen, Denmark, with a U.S. base in New York.
YTD Price Performance: -59.57%
Average Trading Volume: 347,563
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $50.08M
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