TILT Biotherapeutics Funding News- TILT Biotherapeutics Raises $25.6Mn In Series B Round

The funds will help speed up the development of TILT’s main drug, TILT-123, as it enters Phase 2 trials for platinum-resistant ovarian cancer.

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Current cancer treatments, especially T-cell-based therapies like CAR-T and immune checkpoint inhibitors, have been effective in blood cancers but struggle with solid tumors. This is due to the tumor's ability to suppress immune responses and block T-cell entry, leaving many patients without effective options.

Founder and CEO Akseli Hemminki said, “We’re pleased to close this round and grateful for our investors’ ongoing support. We’ve made solid progress in ovarian cancer, and this funding will help us move forward with our Phase 2 trials. Our first U.S. site is open, and we plan to open at least five more this year.”

The investment will also support additional Phase 1b trials in melanoma and other cancers, as well as expanding clinical operations in the U.S. through 2025.

TILT Biotherapeutics was founded in 2013 in Helsinki, Finland, by Professor Akseli Hemminki — a leading cancer specialist, researcher, and biotech entrepreneur. A professor of oncology at the University of Helsinki, he has published over 370 scientific papers and holds more than 10 patents focused on oncolytic viruses.

Before starting TILT, Hemminki co-founded Oncos Therapeutics (now part of Targovax ASA) and treated nearly 300 cancer patients with experimental oncolytic virus therapies, helping to pioneer personalized immunotherapy in Europe.

TILT grew out of the University of Helsinki, using Hemminki’s clinical experience and research to create next-generation cancer treatments. The company’s goal is to make T-cell-based immunotherapy more effective for solid tumors and available to more patients.

TILT Biotherapeutics develops oncolytic adenovirus therapies designed to boost the body’s immune response against cancer. Its TILT® platform uses genetically modified viruses that carry immune-boosting agents — specifically cytokines TNF alpha and IL-2 — to alter the tumour environment and overcome barriers that make solid tumours hard to treat.

The lead therapy, TILT-123 (Igrelimogene litadenorepvec), is a chimeric oncolytic adenovirus armed with TNF and IL-2. It can be injected directly into tumours or delivered through the bloodstream.

TILT-123 works by destroying cancer cells, releasing tumour antigens, and triggering a strong immune response. The added cytokines attract and activate T cells, turning “cold” tumours into “hot” ones that are more responsive to immunotherapies.

TILT is currently running clinical trials focused on platinum-resistant ovarian cancer and melanoma. It has partnered with major pharma companies like Merck & Co. (MSD) and Merck KGaA. In collaboration with MSD, TILT is testing TILT-123 with the checkpoint inhibitor KEYTRUDA® (pembrolizumab) in ovarian cancer patients (NCT05271318).

Early results from a Phase 1a trial (PROTA) published in Nature Communications and presented at AACR showed strong safety and encouraging efficacy. Of the 14 patients evaluated, 64% achieved disease control, with a 20% response rate at the highest dose. Median progression-free survival was 98 days, and overall survival reached 190 days. Interim results from ongoing Phase 1b trials are expected in late 2026.

Despite recent therapeutic advances, ovarian cancer remains a significant unmet medical need. Currently, no oncolytic viruses or checkpoint inhibitors are approved for this indication. TILT’s approach stands out for its innovation — it is among the few companies worldwide developing systemically deliverable oncolytic viruses for solid tumours that can work with various immunotherapies.

As founder and CEO, Akseli Hemminki puts it: “Ovarian cancer continues to be an unmet medical need despite recent therapies being approved. No oncolytic viruses or checkpoint inhibitors are currently approved in this indication. We are committed to our mission to transform the treatment options for patients with ovarian cancer with TILT-123.”

Backed by strong science, experienced leadership, and solid investor support, TILT Biotherapeutics is well-equipped to change the way cancer is treated. Its active clinical trials and collaborations with top pharma companies put it at the cutting edge of immuno-oncology, offering new hope for patients facing tough-to-treat cancers.

About TILT Biotherapeutics

TILT Biotherapeutics is a biotech company focused on treating solid tumors, especially ovarian cancer, using oncolytic immunotherapies. They use specially designed viruses to change the tumor environment and boost the immune system, helping T-cell therapies and checkpoint inhibitors work more effectively.