Syncona and Novartis have invested in Anaveon. The CHF 35 million ($35 million) series A round sets Anaveon up to advance a preclinical asset designed to enhance anti-tumor immune responses.
Anaveon, a University of Zurich spinout, began operations late in 2017 to build on the research of Onur Boyman, the first person to demonstrate the redirection of IL-2 activity in vivo. Boyman’s work forms part of a body of evidence, including clinical data going back decades, that suggests IL-2-based therapies can improve outcomes in conditions including melanoma and renal cell carcinoma.
Higher doses of IL-2 yield better efficacy but cause fluids and proteins to leak out of capillary blood vessels. This side effect, known as vascular leak syndrome, causes symptoms similar to septic shock and limits the utility of IL-2. The short half-life of IL-2 is a barrier to use, too.
Boyman and Andreas Katopodis, formerly of Novartis, founded Anaveon in the belief that they can overcome these barriers. The antibody in preclinical development at Anaveon is designed to unleash the positive effects of IL-2 on cytotoxic effector cells while preventing the unwanted stimulation of immunosuppressive regulatory T cells.
Katopodis’ research group at Novartis collaborated with Boyman on the development of the antibody before the pair founded Anaveon. The collaboration culminated in a paper describing a high-affinity CD25 mimic capable of selectively stimulating cytotoxic effector cells.
“Our compounds act as adjuvants to increase anti-tumour immune responses. Preclinical evidence shows they have marked efficacy in a variety of tumour models either as mono- or as combination therapy,” Katopodis said in a statement.
Anaveon funded its early work as a standalone startup using seed money from UZH Life Sciences Fund and BaselArea.swiss’ BaseLaunch healthcare accelerator program. That enabled Anaveon to get its program to the point that bigger organizations are willing to stake significantly larger sums of money on its future.
Syncona led the series A round, committing CHF 28 million in return for a 47% stake in Anaveon. Novartis Venture Fund participated, too, and, like Syncona, secured itself a seat on Anaveon’s board of directors.