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PR: HEPHAISTOS secures €10.3 M to reach the clinical stage

HEPHAISTOS-Pharma welcomes Elaia to complete its Seed Round, securing a total of €10.3 million from investors and non-dilutive financing.

  • €4.5M seed round led by Elaia with xista sciences ventures, Fondation Fournier-Majoie, Noshaq, Angels Santé and Femmes Business Angels.
  • €5.8M non-dilutive funding from the EIC accelerator, Bpifrance i-Nov, and France 2030 clinical grant.
  • ONCO-Boost is a first-in-class immunostimulant targeting innate immune response to treat cancers non-responding to current regimens, including immunotherapies.

France, May 16th, 2024. HEPHAISTOS-Pharma, a biotechnology company developing next generation immunotherapies against cancer targeting innate immunity to increase the cure rate of patients, has completed its €4.5 million seed round to finance industrialization and advance its lead candidate ONCO-Boost towards the clinic. Elaia leads a consortium previously initiated by xista science ventures, the Fondation Fournier-Majoie and Noshaq.

Florian DENIS, Investment Director at Elaia, stated: Elaia is very proud to join and strengthen the syndication. HEPHAISTOS’ core technology based on immunostimulants has the potential to turn cold tumors into hot tumors in hard-to-treat cancers. Frédéric CAROFF and his team have generated impressive preclinical data that will be scaled up towards additional value-creating milestones.

ELAIA has a proven track record in supporting biotech companies through to the clinic and success, and we are delighted to have them on board said Frederic CAROFF, CEO and co-founder of HEPHAISTOS-Pharma. With xista science ventures, Fondation Fournier-Majoie and Noshaq, our consortium of seed investors brings not only the necessary funds, but also complementary expertise and a network that will structure the company. They will play a crucial role in the success of HEPHAISTOS.

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HEPHAISTOS’ innovative approach to innate modulation has received significant validation and support from prestigious programs, with a total of €5.8 million awarded to accelerate the development of ONCO-Boost for the treatment of hard-to-treat solid tumors, where there is a high unmet medical need, Bpifrance i-Nov national competition, EIC Accelerator European competition and RHU clinical grant from France 2030, that will include a clinical phase 1/2 in collaboration with…

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