iTeos’ $125 Million Series B2 Financing


Wilson Sonsini Goodrich & Rosati advised the investors.

iTeos Therapeutics Inc., a privately-held clinical-stage biotechnology company developing innovative cancer immunotherapies, announced the closing of an oversubscribed Series B2 financing, which raised a total of $125 million.

The Series B2 financing round was co-led by RA Capital Management and Boxer Capital, and included new investors Janus Henderson Investors, RTW Investments and Invus along with existing investors MPM Capital, HBM Partners, 6 Dimensions Capital, Curative Ventures, Fund+, VIVES Louvain Technology Fund, SRIW, and SFPI.

Proceeds from the financing will support the Company’s continued growth and advance the clinical development of its two lead product candidates, EOS-850, a best-in-class adenosine A2A receptor antagonist and EOS-448, an ADCC-enabled anti-TIGIT antibody. EOS-850 is currently being evaluated in a Phase 1/2 clinical trial both as a single agent and in combination in several solid tumor indications. The Company plans to initiate dosing for the combination cohorts for this trial in the second quarter of 2020. The Company also recently initiated the Phase 1 portion of a Phase 1/2 clinical study of EOS-448, currently being evaluated in patients with solid tumors and hematological malignancies. Proceeds from this financing will also support the advancement of additional first-in-class preclinical programs targeting the adenosine pathway and Tregs.

Derek DiRocco and Aaron Davis will join the iTeos Board as Non-Executive Directors.

iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to transforming the lives of people living with cancer by designing and developing next generation immunotherapies targeting two key resistance pathways to checkpoint therapy: the adenosine pathway and regulatory T cells (Tregs).

RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics.

Boxer Capital, LLC is a private biotechnology investment fund based in San Diego, California that invents and invests in drug development across multiple therapeutic indications.


The Wilson Sonsini team included Michael Hostetler (Picture) and Julia Minitti.

Involved fees earner: Michael Hostetler – Wilson Sonsini Goodrich & Rosati; Julia Minitti – Wilson Sonsini Goodrich & Rosati;

Law Firms: Wilson Sonsini Goodrich & Rosati;

Clients: Boxer Capital; RA Capital Management;

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Author: Ambrogio Visconti