ONCOMATRYX, a biopharmaceutical company focused on developing innovative antibody-drug conjugates (ADCs) targeting the tumor microenvironment, has announced the successful completion of a €25 million funding round. This financial boost will primarily support Phase Ib-II clinical trials of OMTX705, a first-in-class ADC designed to target Fibroblast Activation Protein (FAP). The trials aim to evaluate the safety and efficacy of OMTX705 in patients with metastatic solid tumors.
The funding round saw strong participation from existing investors, alongside a significant €10 million strategic investment from Centro para el Desarrollo Tecnológico y la Innovación (CDTI). This investment underscores confidence in Oncomatryx's approach to developing ADCs for treating advanced cancers.
Targeting the Tumor Microenvironment
OMTX705 is designed to target Fibroblast Activation Protein (FAP) expressed in Cancer-Associated Fibroblasts (CAFs). CAFs promote tumor growth and metastasis by remodeling the extracellular matrix and suppressing immune responses. By targeting FAP, OMTX705 aims to disrupt the tumor microenvironment, potentially enhancing the efficacy of cancer therapies.
Clinical Development and Future Milestones
"We are thrilled to count on the continued support of our existing investors and welcome CDTI through Innvierte, an investment program of CDTI," said Dr. Laureano Simon, CEO of ONCOMATRYX. "This funding validates our clinical progress and equips us to execute on critical milestones and deliver transformative therapies to patients."
Oncomatryx plans to present Phase I clinical results of OMTX705 at major oncology conferences throughout 2025. These results are anticipated to provide valuable insights into the safety and potential efficacy of OMTX705, paving the way for further clinical development.
About Oncomatryx
Oncomatryx is pioneering the development of ADCs that target immunosuppressive CAFs, collaborating with leading universities, hospitals, and research centers in the USA and Europe. The company's proprietary ADC platform focuses on modulating the tumor microenvironment to improve treatment outcomes for patients with metastatic solid tumors. The ongoing Phase I clinical trial of OMTX705 is registered under NCT05547321.
