TVM Life Science Ventures VII announced the fund’s ninth investment – establishing Modulate Therapeutics Inc., a company based in Montréal, Québec. The company plans to develop, to proof-of-concept, the compound IMM-01 that is designed to re-engage the immune system in order to recognize and eradicate neoplastic disease.

Modulate Therapeutics Inc. will explore the development of a nanolipogel formulation that targets the delivery of nano-doses of both a TGF beta inhibitor combined with Interleukin 2 at the site of the tumor growth, potentially synergizing with immune oncology checkpoint inhibitors and aims to further increase response rates and overall survival for patients with certain types of cancer.

“LLC. IMM-01 stimulates T-cell proliferation, increasing the presence of tumour infiltrating lymphocytes while blocking a key mediator of immunosuppression in the tumour microenvironment. This transaction is a testament to the benefits of our investment model,” said Luc Marengere, Managing Partner with TVM Capital Life Science and Board member of Modulate Therapeutics Inc.

This is the ninth investment for TVM Life Science Ventures VII, which follows a new, capital-efficient investment approach to developing pharmaceutical assets to human proof-of-concept in single-asset companies. The fund is a unique collaboration between TVM Capital Life Science and numerous limited partners, including Eli Lilly and Company. The goal is to finance and access innovation while managing risk and sharing reward.

Modulate Therapeutics Inc. will leverage its extensive product development expertise to potentially bring their asset to human proof-of-concept. If and when proof-of-concept is reached, Lilly will have an opportunity to acquire the molecule.