Oncomatryx Raises $67 Million to Advance Cancer Therapies
Oncomatryx, based in San Sebastián, Basque Country, Spain, has successfully raised $67 million in its latest funding round. The company specializes in developing next-generation antibody-drug conjugates (ADCs) designed to improve treatment outcomes for metastatic solid tumors by targeting the tumor microenvironment.
Funding Details and Investors
The funding round, which remains undisclosed in terms of its official designation, attracted investments from a blend of public and private entities. Notable contributors include the Centro para el Desarrollo Tecnológico e Innovación with a $28 million strategic investment, Kutxa Fundazioa providing $18 million, and the Basque Government in collaboration with Ekarpen VC contributing $12 million. Additionally, BBK invested $2 million, alongside other Spanish and international private investors.
Strategic Use of Funds
The newly acquired funds are earmarked for the clinical development of Oncomatryx's pipeline. A significant focus will be on advancing its lead candidate, OMTX705, as well as other Quantum ADC programs such as OMTX105, into clinical trials. These ADCs aim to target Cancer-Associated Fibroblasts within the tumor microenvironment, a strategy that could potentially enhance treatment efficacy in cases of metastatic cancer.
Oncomatryx is leveraging cutting-edge technologies, including artificial intelligence and quantum computing, to design and optimize its ADC candidates. The company also plans to continue developing its proprietary payloads, dual payload approaches, and specialized conjugation chemistry.
Technological Advancements and Clinical Trials
Oncomatryx is preparing to present Phase Ib-II results for OMTX705, which targets the Fibroblast Activation Protein in Cancer-Associated Fibroblasts, at major oncology conferences throughout 2026. The company is also working on establishing a fill-and-finish manufacturing facility in San Sebastián to support its clinical validation efforts.
Comments from Leadership
While no specific founders or executives were listed, the company has expressed optimism about the continued support from its investors. As noted by a representative, "This funding validates the clinical progress of our lead candidate OMTX705 and equips us to take OMTX105 and other Quantum ADCs into clinical trials."
This investment reflects a strong public-private collaboration model, which is actively promoted by the Spanish government to enhance the country's science and innovation ecosystem. The support for Oncomatryx positions Spain as a key player in the field of advanced oncology therapies.