TILT Biotherapeutics (TILT), a biotechnology company developing cancer immunotherapies, has completed the first close of its financing round, raising EUR ten million in total.
The round was led by Lifeline Ventures and joined by Tesi (Finnish Industry Investment Ltd), making its initial investment in the company. The funding will be used to advance Phase I/II drug development programs in Europe and the US.
“TILT is one of the most promising biotech companies in Finland. We are excited to back the development of the company’s innovative treatments for cancer types with currently limited treatment options. Despite the enormous developments in cancer treatments over the past decade, there is still a significant need for new therapies,” says Miia Kaye, Investment Manager at Tesi.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi | @TesiFII