43 million euros for Abalos Therapeutics

Abalos Therapeutics is working on a virus therapy against cancer. The healthcare start-up is also receiving support from NRW.Bank.

Abalos Therapeutics has expanded its Series A financing round. A further 32.5 million has been added, bringing the total raised by the healthcare start-up to 43 million euros. Seventure Partners led the expansion, while other investors include Coparion, Ventura BioMed Investors and Hx Bio Ventures. Boehringer Ingelheim Venture Fund, Gründerfonds Ruhr, High-Tech Gründerfonds and NRW.Bank have also participated again. With the end of the financing round, Annegret de Baey from Seventure Partners and Sebastian Pünzeler from Coparion also sit on the supervisory board of the start-up from Essen.

"With the support of our new and existing investors, we will advance our arena virus-based lead program into the clinical validation phase, with the goal of determining clinical efficacy," says CEO Marcus Kostka. The startup has been working on a cancer therapy that harnesses the anti-tumor properties of the arenavirus since 2019. The virus is designed to stimulate an immune response in the body that destroys cancer cells.