ITM Raises EUR 90 M (USD 109 M) to Accelerate Precision Oncology Pipeline and Support Ongoing Phase 3 Clinical Program

23 Apr, 2021

ITM Raises EUR 90 M (USD 109 M) to Accelerate Precision Oncology Pipeline and Support Ongoing Phase 3 Clinical Program
Photo by Nick Morrison on Unsplash

– ITM announced the successful close of a convertible loan financing totaling EUR 90 million (USD 109 million) led by Petrichor Healthcare Capital Management with participation of additional undisclosed investors.
– The proceeds will support the expansion of ITM’s precision oncology pipeline as well as fund late-stage development and market access activities for lead candidate, n.c.a. 177Lu-Edotreotide, currently in a phase III trial in gastroenteropancreatic neuroendocrine tumors (GEP-NETs).
– Further details of the financing were not disclosed.

North America Pharmaceuticals
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