Helsinki-based TILT Biotherapeutics has raised $25.6 million in a Series B round led by existing backers including the European Innovation Council (EIC) Fund, Lifeline Ventures, TESI, and Stephen Industries Inc Oy. The funds will accelerate the development of its lead candidate, TILT-123—an oncolytic adenovirus engineered to enhance immune response—into Phase 2 trials for platinum-resistant ovarian cancer, alongside additional Phase 1b studies in melanoma and other indications. Building on promising Phase 1a data published in Nature Communications, the company plans to expand its U.S. clinical footprint, with several new sites slated for launch in 2025.
TILT Biotherapeutics is a clinical-stage biotechnology company based in Helsinki, Finland, focused on the development of innovative cancer therapies. The company specializes in oncolytic adenovirus-based treatments designed to enhance immune responses against tumors. TILT Biotherapeutics’ proprietary technology, TILT®, uses viruses armed with immune-activating molecules like cytokines to modify the tumor microenvironment and boost the effectiveness of immune checkpoint inhibitors and T-cell therapies.
The company is conducting multiple clinical trials, including studies for platinum-resistant ovarian cancer and melanoma, with an emphasis on improving safety and efficacy outcomes for patients with challenging cancer types. Established as a spin-out from the University of Helsinki, TILT Biotherapeutics has received significant backing from various investors and collaborates with pharmaceutical companies like Merck & Co. (MSD) and Merck KGaA.
They recently published data from its Phase 1a clinical trial (PROTA) in platinum-resistant ovarian cancer in Nature Communications, which was also presented at AACR (2). The data showed that treatment was well tolerated with an excellent safety profile and promising efficacy observed in some patients. Disease control was achieved in 64% of evaluable patients (9/14) while the overall response rate was 20% at the highest dose level. Median progression-free survival and overall survival were 98 and 190 days respectively. Interim results from ongoing Phase 1b trials are expected to read out in H2 2026.
Tiltbio’s founder and CEO, Akseli Hemminki, said:
“We are delighted to have secured our Series B financing and thank our investors for their continued support. We’ve been making good progress in ovarian cancer and this financing will support the roll out of our Phase 2 clinical trials. We’re excited to have already opened the first site in the USA and are looking forward to dosing our first patients soon and opening at least five more sites this year.”
He continued, “Ovarian cancer continues to be an unmet medical need despite recent therapies being approved. There are no oncolytic viruses or checkpoint inhibitors currently approved for use in this indication. We are committed to our mission to transform the treatment options for patients with ovarian cancer with TILT-123.”
TILT-123 (Igrelimogene litadenorepvec), an oncolytic adenovirus armed with tumor necrosis factor (TNF) and interleukin-2 (IL-2), is designed to enhance the efficacy of T-cell therapies and immune checkpoint blockade. Tiltbio has a collaboration with MSD (Merck & Co., Inc., Rahway, NJ, USA) investigating TILT-123 in combination with KEYTRUDA® (pembrolizumab) in ovarian cancer (NCT05271318).
Click to read more funding news.
Read the orginal article: https://arcticstartup.com/tilt-biotherapeutics-raises-25-6m-series-b/
