PR: HEPHAISTOS secures €10.3 M to reach the clinical stage HEPHAISTOS-Pharma welcomes Elaia to complete its Seed Round, securing a total of €10.3 million from investors and non-dilutive financing. €4.5M seed round led by Elaia with xista sciences ventures, Fondation Fournier-Majoie, Noshaq, Angels Santé and Femmes Business Angels. €5.8M non-dilutive funding from the EIC accelerator, Bpifrance i-Nov, and France 2030 clinical grant. ONCO-Boost is a first-in-class immunostimulant targeting innate immune response to treat cancers non-responding to current regimens, including immunotherapies. France, May 16th, 2024. HEPHAISTOS-Pharma, a biotechnology company developing next generation immunotherapies against cancer targeting innate immunity to increase the cure rate of patients, has completed its €4.5 million seed round to finance industrialization and advance its lead candidate ONCO-Boost towards the clinic. Elaia leads a consortium previously initiated by xista science ventures, the Fondation Fournier-Majoie and Noshaq. Florian DENIS, Investment Director at Elaia, stated: "Elaia is very proud to join and strengthen the syndication. HEPHAISTOS' core technology based on immunostimulants has the potential to turn cold tumors into hot tumors in hard-to-treat cancers. Frédéric CAROFF and his team have generated impressive preclinical data that will be scaled up towards additional value-creating milestones." "ELAIA has a proven track record in supporting biotech companies through to the clinic and success, and we are delighted to have them on board" said Frederic CAROFF, CEO and co-founder of HEPHAISTOS-Pharma. "With xista science ventures, Fondation Fournier-Majoie and Noshaq, our consortium of seed investors brings not only the necessary funds, but also complementary expertise and a network that will structure the company. They will play a crucial role in the success of HEPHAISTOS." HEPHAISTOS' innovative approach to innate modulation has received significant validation and support from prestigious programs, with a total of €5.8 million awarded to accelerate the development of ONCO-Boost for the treatment of hard-to-treat solid tumors, where there is a high unmet medical need, Bpifrance i-Nov national competition, ...