# IO Biotech

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/io-biotech-aps

- Industry: Pharmaceuticals
- Headquarters: Copenhagen, Denmark
- Website: www.iobiotech.com
- Total disclosed funding: $190M
- Latest round: Series C (Oct 7, 2021)
- Investors on record: 16

## About

Based in Copenhagen, Denmark and founded in 2015 by its CEO, Dr. Mai-Britt Zocca, and co-founders Anders Ljungqvist, Inge Svane, Mads Andersen, and Per Straten, IO Biotech ApS is a clinical-stage biotech company that develops novel therapeutic immuno-oncology vaccines for cancer treatment. In March 2025, IO Biotech ApS raised EUR 57.5 million in venture debt funding from new investor European Investment Bank. As of November 2021, the company was listed on the Nasdaq Global Market under the symbol IOBT and raised USD115.1 million. IO Biotech ApS uses the T-win technology platform and develops IO102-IO103 designed to target the immunosuppressive mechanisms mediated by key immunosuppressive proteins such as IDO and PD-L1. IO Biotech ApS will use the IPO funding towards the development of IO102-IO103 as well as for research and development, general and administrative headcount costs, cross-program research and development activities, and other general corporate purposes and working capital. The company will use the March 2025 funding to support the development of cancer vaccine research.

## Funding rounds

- Series C, Oct 7, 2021, $14M — HBM Partners
- Series C, Jan 11, 2021, $156M — Idinvest Partners, HBM Partners, Vivo Capital, Kurma Partners, Lundbeckfond Ventures, RA Capital Management, Novo Seeds, Samsara BioCapital, Soleus Capital, Sunstone Life Science Ventures, Eir Ventures, Serrado Capital, Avoro Capital Advisors, PFM Health Sciences
- Series A, Dec 28, 2016, $8.9M — Heartcore Capital, Lundbeckfond Ventures, Novo Seeds
- Series A, Jan 5, 2016, $12M — Lundbeckfond Ventures, Novo Holdings

## Investors

- Lundbeckfond Ventures (https://capitalatlas.ai/funds/lundbeckfond-ventures) — Series A, Series C
- Novo Holdings — Series A
- Heartcore Capital (https://capitalatlas.ai/funds/heartcore-capital) — Series A
- Novo Seeds — Series A, Series C
- Idinvest Partners (https://capitalatlas.ai/funds/idinvest-partners) — Series C
- HBM Partners (https://capitalatlas.ai/funds/hbm-partners) — Series C
- Vivo Capital (https://capitalatlas.ai/funds/vivo-capital) — Series C
- Kurma Partners (https://capitalatlas.ai/funds/kurma-partners) — Series C
- RA Capital Management (https://capitalatlas.ai/funds/ra-capital-management) — Series C
- Samsara BioCapital (https://capitalatlas.ai/funds/samsara-biocapital) — Series C
- Soleus Capital (https://capitalatlas.ai/funds/soleus-capital) — Series C
- Sunstone Life Science Ventures (https://capitalatlas.ai/funds/sunstone-life-science-ventures) — Series C
- Eir Ventures (https://capitalatlas.ai/funds/eir-ventures) — Series C
- Serrado Capital — Series C
- Avoro Capital Advisors — Series C
- PFM Health Sciences (https://capitalatlas.ai/funds/pfm-health-sciences) — Series C