Step Pharma Secures €38 Million Series C to Advance CTPS1 Inhibitor Dencatistat Across Multiple Cancer Indications
Key Insights
Step Pharma (search) completed a €38 million Series C financing round led by V-Bio Ventures (search) to advance its first-in-class CTPS1 (search) inhibitor dencatistat across multiple cancer indications.
The company is pursuing a "pipeline in a product" strategy with dencatistat being evaluated in three clinical programs: relapsed/refractory lymphoma, solid tumors, and essential thrombocythaemia.
Dencatistat received orphan drug designation for T cell lymphoma treatment in May 2025 and demonstrated dose-dependent platelet count reduction in lymphoma trials.
Step Pharma (search), the global leader in CTPS1 (search) inhibition for targeted cancer treatment, announced the completion of a €38 million Series C financing round to advance its lead asset dencatistat across multiple cancer indications. The round was led by new investor V-Bio Ventures (search), with participation from existing investors including Pontifax (search), Bpifrance (search), Kurma Partners (search), Hadean Ventures, Sunstone Life Science Ventures and Inserm Transfert Initiative.
Novel CTPS1 Inhibition Approach
Dencatistat represents a first-in-class, highly selective, orally bioavailable CTPS1 (search) inhibitor currently in development for treating cancers and blood disorders. All cancers appear to be highly reliant on CTPS1, a key component of the pyrimidine synthesis pathway, for DNA synthesis and cell proliferation. This mechanism allows the drug to selectively target cancer cells while potentially leaving healthy cells unharmed.
Multi-Indication Clinical Development
Step Pharma (search) is pursuing a "pipeline in a product" strategy with dencatistat being evaluated across three distinct clinical programs. The drug is currently being assessed in a phase 1/2 clinical trial for adult patients with relapsed/refractory T or B cell lymphoma, having received orphan drug designation for T cell lymphoma treatment in May 2025.
The company is also evaluating dencatistat in a phase 1 trial in solid tumor patients, with expansion cohorts planned for CTPS2 (search)-null ovarian, endometrial and lung cancer. Clinical trials in lymphoma demonstrated that continual administration results in a dose-dependent and reversible lowering of platelet count, leading to the initiation of a third clinical program in essential thrombocythaemia, a rare clonal blood disorder where bone marrow produces excessive platelets.
Strategic Investment and Leadership
Ward Capoen, Partner at V-Bio Ventures (search), joins Step Pharma (search)'s Board of Directors as part of the financing. "The Company's approach to inhibiting CTPS1 (search) to selectively block the proliferation of cancer cells is highly promising, and the team has followed the data into essential thrombocythaemia after observing dencatistat's effect on platelet levels," Capoen stated.
Andrew Parker, Chief Executive Officer of Step Pharma (search), emphasized the strategic value of the funding: "These funds will enable us to expand our clinical dataset, complete all ongoing phase 1 studies, and further derisk dencatistat as we enter phase 2 and explore its potential to improve patient outcomes through CTPS1 (search) inhibition."
Company Background and Future Outlook
Founded in 2014 by Kurma Partners (search), the Imagine Institute and Sygnature Discovery, Step Pharma (search) was established based on scientific discoveries by Prof. Alain Fischer and Dr Sylvain Latour. The Saint-Genis-Pouilly, France-based company positions itself as pioneering a new therapeutic approach with the potential to yield highly selective, safe and effective treatments for both blood cancers and solid tumors.
The Series C financing will support the company's continued advancement of its multi-pronged clinical strategy, positioning Step Pharma (search) to provide new therapeutic options for patients across multiple cancer indications through its novel CTPS1 (search) inhibition platform.