false 0001865494 0001865494 2023-08-07 2023-08-07

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 7, 2023

 

 

IO BIOTECH, INC.

(Exact name of Registrant as Specified in its Charter)

 

 

 

Delaware   001-41008   87-0909276

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

Ole Maaløes Vej 3

DK-2200 Copenhagen N

Denmark

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: +45 7070 2980

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, par value $0.001 per share   IOBT   The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02

Results of Operations and Financial Condition

On August 11, 2023, IO Biotech, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2023 and an update on the Company’s operations for the same period. The Company is furnishing a copy of the press release, which is attached hereto as Exhibit 99.1.

 

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 8, 2023, the Company appointed Heidi Hunter as a Class II director of the Company, effective as of August 11, 2023. The Board also appointed Ms. Hunter to serve on the Board’s Audit Committee and Nominating and Corporate Governance Committee.

There are no arrangements or understandings between Ms. Hunter and any other person pursuant to which Ms. Hunter was selected as a director. There are no transactions involving Ms. Hunter that would be required to be reported under Item 404(a) of Regulation S-K.

In connection with her appointment as a director of the Company, Ms. Hunter will enter into the Company’s standard indemnification agreement applicable to non-employee directors and will be eligible for compensation in accordance with the Company’s Non-Employee Directors’ Compensation Policy (the “Policy”), as described in the Company’s Definitive Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 26, 2023.

In addition, at the close of business on August 11, 2023, Ms. Hunter will receive a grant of 64,238 stock options. The stock options will vest monthly over three years, subject to Ms. Hunter’s continuous service on each applicable vesting date. All stock options are to be settled in shares of the Company’s common stock. Like other eligible directors, Ms. Hunter will be eligible to receive subsequent stock option awards if she is continuing her service on the Board of Directors of the Company following each annual meeting of stockholders. In accordance with the Policy, the value of such subsequent awards of stock option grants shall be $75,000 as of the grant date and will vest upon the one-year anniversary of the grant date, subject to Ms. Hunter’s continuous service until such date. Notwithstanding the vesting schedules described above, if Ms. Hunter remains in continuous service until a change of control of the Company, she will become fully vested in all of her then-outstanding equity awards.

On August 7, 2023, Priyanka Belawat, a member of the Board of Directors of the Company, notified the Company of her resignation from the Board, effective that same date. Ms. Belawat’s decision is not due to any disagreement with the Company or the Board on any matter relating to the Company’s operations, policies or practices.

 

Item 7.01.

Regulation FD Disclosure.

On August 11, 2023, the Company issued a press release announcing Ms. Hunter’s appointment and Ms. Belawat’s resignation. A copy of the press release is attached hereto as Exhibit 99.2.

The information contained in this Current Report on Form 8-K is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit

Number

    Exhibit Description
99.1    Press Release, dated as of August 11, 2023
99.2    Press Release, dated as of August 11, 2023
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    IO BIOTECH, INC.
Date: August 11, 2023     By:  

/s/ Mai-Britt Zocca, Ph.D.

    Name:   Mai-Britt Zocca, Ph.D.
    Title:   Chief Executive Officer

Exhibit 99.1

 

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IO Biotech Announces 2023 Second Quarter Results

 

  •  

Achieved significant enrollment milestone in pivotal Phase 3 trial of IO102-IO103 cancer vaccine in advanced melanoma; full enrollment anticipated by the end of 2023

 

  •  

Initiated enrollment in three investigator-initiated trials which the company is supporting to evaluate IO102-IO103 in combination regimens across a variety of cancer types

 

  •  

Continued enrollment in Phase 2 basket trial of IO102-IO103, in patients with lung cancer, and head and neck cancer

 

  •  

Strengthened executive team with hires to key commercial and medical leadership positions

 

  •  

Completed a $75 million private placement with participation from both new and existing healthcare-dedicated investors

 

  •  

Ended the second quarter with approximately $110.1 million in cash and cash equivalents, which, together with the proceeds from the private placement financing, is expected to support operations into the fourth quarter of 2025

New York, NY – August 11, 2023: IO Biotech (Nasdaq: IOBT), a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer vaccines based on its T-win® technology platform, today announced financial results for the second quarter ended June 30, 2023.

“We have made a great deal of progress during the first half of the year in the development of our novel, investigational immune-modulating cancer vaccine, IO102-IO103,” said Mai-Britt Zocca, PhD, President and CEO of IO Biotech. “We have achieved the important recruitment milestone of having enrolled 225 patients in our pivotal Phase 3 trial for patients with advanced melanoma. We now look forward to the interim analysis which, per the protocol, is to be conducted one year after 225 patients have been randomized. If the data from this interim analysis are supportive, we anticipate submitting a Biologics License Application for accelerated approval in the US. We are continuing to see enrollment in this trial accelerate and remain on track to reach full enrollment by the end of this year. We continue to be encouraged by the strong interest from investigators and patients in our clinical studies.”

Dr. Zocca continued, “With a very strong balance sheet and executives now hired into critical roles, we are well prepared for the key activities necessary to continue progressing our lead candidate cancer vaccine, IO102-IO103, towards the market. I look forward to a very productive second half of the year.”

Second Quarter 2023 and Recent Business Highlights:

 

  •  

In June 2023, the company achieved a significant recruitment milestone of having enrolled 225 patients in its Phase 3 ‘IOB-013/KN-D18’ trial. The Phase 3 trial protocol calls for an interim analysis of the overall response rate one year after 225 patients have been enrolled. If the data are supportive, this interim analysis could allow for submission of a Biologics License Application for accelerated approval in the US.

 

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  •  

Full enrollment for the Phase 3 IOB-013/KN-D18 trial was increased from 300 to 380 patients with the aim of accelerating the time to reach the primary endpoint of progression free survival (PFS). The company expects the trial to be fully enrolled with 380 patients by the end of 2023.

 

  •  

The Phase 2 basket trial (‘IOB-022/KN-D38’) evaluating IO102-IO103 in combination with pembrolizumab in patients with metastatic non-small cell lung cancer, recurrent or metastatic head and neck cancer continued enrolling patients. The company will be closing the metastatic bladder cancer cohort of this basket trial due to the changing treatment landscape in this indication and the possibility of further exploring the safety and efficacy of IO Biotech products in this indication in a separate IIT. Data from the lung cohort of this basket trial will be presented in a mini oral presentation at the IASLC 2023 World Conference on Lung Cancer (WCLC) in September 2023 and in a poster presentation at the ESMO Congress in October 2023.

 

  •  

Three of five investigator-initiated trials (IITs) that the company is supporting have recently started enrolling patients. These three IITs include: (1) a Phase 1 trial to investigate IO102-IO103 in combination with pembrolizumab for BCG-unresponsive or intolerant, non-muscle invasive bladder cancer (NMIBC), (NCT05843448); (2) the Phase 2 KIEO (Keytruda-IO102-IO103 Extended-pre-Operative) trial to investigate neoadjuvant pembrolizumab and IO102-IO103 prior to curative-intent surgical care for squamous cell carcinoma of the head and neck (SCCHN), (NCT05977907); and (3) a Phase 2 trial evaluating IO102-IO103 and a fixed-dose combination of nivolumab-relatlimab in treatment-naïve patients with unresectable Stage III/IV melanoma, (NCT05912244).

 

  •  

The company strengthened its executive team with the appointments of Christine Richter, PhD, MBA, as Senior Vice President, Commercial and Program Lead; Qasim Ahmad, MD, as Chief Medical Officer; and the promotion of Eric Faulkner from Sr. Vice President, CMC to Chief Technical Officer.

 

  •  

The Company appointed Heidi Hunter to its Board of Directors.

 

  •  

On August 7, 2023, the company entered into a definitive securities purchase agreement. Under the securities purchase agreement, the investors have agreed to purchase 37,065,647 shares of the company’s common stock and accompanying warrants to purchase up to an aggregate of 37,065,647 shares of common stock, at a combined purchase price of $2.025 per share and accompanying warrant. Each accompanying warrant will represent the right to purchase one share of the company’s common stock at an exercise price of $2.47 per share. The warrants will be exercisable for a period of three years and six months following the date of issuance.

Second Quarter 2023 Financial Results

 

  •  

Net loss for the three months ended June 30, 2023 was $21.2 million, compared to $18.5 million for the three months ended June 30, 2022.

 

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  •  

Research and development expenses were $16.5 million for the three months ended June 30, 2023, compared to $12.2 million for the three months ended June 30, 2022. The increase was primarily related to clinical trial-related activities for our IO102-IO103 product candidate, including the continued execution of our Phase 3 clinical trial. The Company recognized $0.9 million in research and development equity-based compensation for the three months ended June 30, 2023, compared to $0.5 million for the three months ended June 30, 2022.

 

  •  

General and administrative expenses were $5.3 million for the three months ended June 30, 2023, compared to $5.9 million for the three months ended June 30, 2022. The decrease was related to lower professional services and consulting costs, offset by an increase in headcount. The Company recognized $0.7 million in general and administrative equity-based compensation for the three months ended June 30, 2023, compared to $0.8 million for the three months ended June 30, 2022.

 

  •  

Cash and cash equivalents as of June 30, 2023 were $110.1 million, compared to $142.6 million at December 31, 2022. During the three months ended June 30, 2023, the Company used cash, cash equivalents and restricted cash of $18.3 million from operating and investing activities with an additional decrease of $0.1 million in cash due to the effects of foreign currency exchange rates.

 

  •  

Cash on hand is expected to support operations into the fourth quarter of 2025.

Upcoming events

Morgan Stanley 21st Annual Global Healthcare Conference. New York City. September 11-13, 2023. Dr. Zocca and Ms. Sullivan will participate in a fireside chat and one-on-one meetings on Tuesday, September 12.

H.C. Wainwright 25th Annual Global Investment Conference. New York City. September 11-13, 2023. Dr. Zocca will present a corporate overview and Dr. Zocca and Ms. Sullivan will participate in one-on-one meetings on Wednesday, September 13.

A live audio webcast of each presentation will be available on the Investors section of the IO Biotech website at www.iobiotech.com. A webcast replay of the presentations will be available on IO Biotech’s website for 90 days following the presentation.

IASLC 2023 World Conference on Lung Cancer (WCLC). Singapore, September 9-12, 2023. One abstract has been accepted for a Mini Oral presentation.

 

  •  

Abstract Title: Ph 2 Trial of IO102-IO103 Vaccine Plus Pembrolizumab: Preliminary Results for the First-line Treatment of Lung Adenocarcinoma

Session: MA15—Bringing New Discoveries into Early Phase Clinical Trials

Session Date & Time: September 12, 2023 at 10:45 AM—11:45 AM

Presenter: Jonathan Riess, MD

ESMO Congress 2023. Madrid, October 20-24, 2023. One abstract has been accepted for a poster presentation.

 

  •  

Abstract Title: A Phase 2 trial of the IO102-IO103 vaccine plus pembrolizumab: preliminary analysis for first line (1L) treatment of Non-Small Cell Lung Cancer (NSCLC) and Squamous Cell Carcinoma of the Head and Neck (SCCHN)

 

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Presentation number: 1038P

Presenter: Jonathan Riess, MD

About IO102-IO103

IO102-IO103 is an investigational immune-modulating cancer vaccine designed to target the immunosuppressive mechanisms mediated by the proteins indoleamine 2,3-dioxygenase (IDO) and PD-L1. The company is currently conducting a Phase 3 trial (IOB-013/KN-D18; NCT05155254) evaluating IO102-IO103 in combination with pembrolizumab in first-line advanced melanoma patients, and a Phase 2 basket trial (IOB-022/KN-D38; NCT05077709).

About the IOB-013/KN-D18 Phase 3 Clinical Trial

IOB-013/KN-D18 (NCT05155254) is an open label, randomized Phase 3 clinical trial being conducted in collaboration with Merck of IO102-IO103 in combination with pembrolizumab versus pembrolizumab alone in patients with previously untreated, unresectable or metastatic (advanced) melanoma. Target enrollment is 380 patients from centers spread across the United States, Europe, Australia, Israel and South Africa. Biomarker analyses will also be conducted. IO Biotech is sponsoring the Phase 3 trial and Merck is supplying pembrolizumab. IO Biotech maintains full global commercial rights to IO102-IO103.

About IOB-022/KN-D38 Phase 2 Solid Tumor Basket Trial

IOB-022/KN-D38 (NCT05077709) is a non-comparative, open label trial to investigate the safety and efficacy of IO102-IO103 in combination with pembrolizumab in each of the following first-line advanced cancers: non-small cell lung cancer (NSCLC), squamous cell carcinoma of the head and neck (SCCHN), and urothelial bladder cancer (UBC). The clinical trial is sponsored by IO Biotech and conducted in collaboration with Merck. IO Biotech maintains global commercial rights to IO102-IO103.

About IO Biotech

IO Biotech is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer vaccines based on its T-win® vaccine platform. The T-win platform is a novel approach to cancer vaccines designed to activate T cells to target the most important immunosuppressive cells in the tumor microenvironment. IO Biotech is advancing in clinical studies its lead cancer vaccine candidate, IO102-IO103, targeting IDO and PD-L1, and through preclinical development its other pipeline candidates. IO Biotech is headquartered in Copenhagen, Denmark and has US headquarters in New York, New York.

For further information, please visit www.iobiotech.com.

 

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including regarding the timing of the interim analysis of our Phase 3 trial, current or future clinical trials, their progress, enrollment or results, or the company’s financial position or cash runway, are based on IO Biotech’s current assumptions and expectations of future events and trends, which affect or may affect its business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Except to the extent required by law, IO Biotech undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise.

Contact:

Maryann Cimino, Director of Investor Relations

IO Biotech, Inc.

617-710-7305

mci@iobiotech.com

 

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IO BIOTECH, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

(unaudited)

 

     Three Months Ended
June 30,		     Six Months Ended
June 30,		  
     2023     2022     2023     2022  

Operating expenses

         

Research and development

    $ 16,504     $ 12,226     $ 28,404     $ 22,531  

General and administrative

      5,348       5,935       11,372       12,639  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total operating expenses

      21,852       18,161       39,776       35,170  
  

 

 

    

 

 

    

 

 

    

 

 

  

Loss from operations

      (21,852 )      (18,161 )      (39,776 )      (35,170 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Other income (expense)

         

Currency exchange gain (loss), net

      10       (286 )      268       (305 ) 

Interest income

      1,196       158       2,224       173  

Interest expense

      —         (102 )      —         (226 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total other income (expense), net

      1,206       (230 )      2,492       (358 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Loss before income tax expense

      (20,646 )      (18,391 )      (37,284 )      (35,528 ) 

Income tax expense

      532       104       938       171  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net loss

      (21,178 )      (18,495 )      (38,222 )      (35,699 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net loss attributable to common shareholders

      (21,178 )      (18,495 )      (38,222 )      (35,699 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net loss per common share, basic and diluted

    $ (0.74 )    $ (0.64 )    $ (1.33 )    $ (1.24 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average number of shares used in computing net loss per common share, basic and diluted

      28,815,267       28,815,267       28,815,267       28,815,267  
  

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive (loss) income

         

Net loss

    $ (21,178 )    $ (18,495 )    $ (38,222 )    $ (35,699 ) 

Foreign currency translation

      (141 )      (4,379 )      376       (7,026 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total comprehensive loss

    $ (21,319 )    $ (22,874 )    $ (37,846 )    $ (42,725 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

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IO BIOTECH, INC.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share amounts)

(unaudited)

 

     June 30,
2023		     December 31,
2022		  

Assets

     

Current assets

     

Cash and cash equivalents

    $ 110,095     $ 142,590  

Prepaid expenses and other current assets

      2,941       5,629  
  

 

 

    

 

 

  

Total current assets

      113,036       148,219  
  

 

 

    

 

 

  

Restricted cash

      268       268  

Property and equipment, net

      826       741  

Right of use lease asset

      2,534       2,493  

Other non-current assets

      891       84  
  

 

 

    

 

 

  

Total non-current assets

      4,519       3,586  
  

 

 

    

 

 

  

Total assets

    $ 117,555     $ 151,805  
  

 

 

    

 

 

  

Liabilities and stockholders’ equity

     

Current liabilities

     

Accounts payable

    $ 4,464     $ 4,004  

Lease liability—current

      613       515  

Accrued expenses and other current liabilities

      5,799       6,157  
  

 

 

    

 

 

  

Total current liabilities

      10,876       10,676  
  

 

 

    

 

 

  

Lease liability—non-current

      2,159       2,275  
  

 

 

    

 

 

  

Total non-current liabilities

      2,159       2,275  
  

 

 

    

 

 

  

Total liabilities

      13,035       12,951  
  

 

 

    

 

 

  

Commitments and contingencies

     

Stockholders’ equity

     

Preferred stock, par value of $0.001 per share; 5,000,000 shares authorized, no shares issued and outstanding as of June 30, 2023 and December 31, 2022

      —         —    

Common stock, par value of $0.001 per share; 300,000,000 shares authorized, 28,815,267 shares issued and outstanding as of June 30, 2023 and December 31, 2022

      29       29  

Additional paid-in capital

      330,217       326,705  

Accumulated deficit

      (215,961 )      (177,739 ) 

Accumulated other comprehensive loss

      (9,765 )      (10,141 ) 
  

 

 

    

 

 

  

Total stockholders’ equity

      104,520       138,854  
  

 

 

    

 

 

  

Total liabilities and stockholders’ equity

    $ 117,555     $ 151,805  
  

 

 

    

 

 

  

 

7

Exhibit 99.2

 

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IO Biotech Appoints Heidi Hunter to its Board of Directors

NEW YORK, August 11, 2023 (GLOBE NEWSWIRE) — IO Biotech (Nasdaq: IOBT), a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer vaccines based on its T-win® technology platform, announced the appointment of Heidi Hunter to its board of directors. Ms. Hunter, an accomplished global biotech leader with over 25 years of experience across the pharmaceutical value chain, from clinical and commercial development through to launch execution, will serve on the Audit Committee and the Nominating and Corporate Governance Committee of the Board. In addition, Priyanka Belawat, PhD, has announced that she is stepping down from the company’s board of directors, effective immediately.

“We are delighted to welcome Heidi to the IO Biotech Board,” said Mai-Britt Zocca, PhD, President and CEO of IO Biotech. “Her extensive experience in innovation, development and commercialization of specialty pharmaceuticals will be instrumental as we continue to advance IO102-IO103 through our ongoing Phase 3 pivotal trial in first-line advanced melanoma. With the interim read out from this trial expected in mid-2024 that could potentially support a BLA submission with the FDA, Heidi’s expertise will be particularly helpful as we begin our commercial planning. We look forward to her many contributions as we work to change the current treatment paradigm with innovative vaccine options for people with cancer.”

Ms. Hunter commented, “It is a privilege to be joining the IO Biotech Board at this exciting time for the company. Upcoming data readouts could provide significant opportunities to accelerate the path forward for IO102-IO103. I look forward to bringing my experience in developing and commercializing new medicines to support IO Biotech with advancing this novel vaccine that has the potential to change the treatment landscape for cancer patients.”

“Additionally, on behalf of our board of directors and management team, we thank Priyanka for her many years of service and valuable contributions she has made to IO Biotech,” added Dr. Zocca.

Ms. Hunter most recently served as President of Cardinal Health where she led the Specialty Solutions Business. Prior to Cardinal Health, Ms. Hunter was Senior Vice President of the Global Immunology Business Unit at UCB in Brussels from September 2015 to September 2020. She has also held leadership positions at Boehringer Ingelheim as Senior Vice President and General Manager in its Biosimilars Business, and at IQVIA as Vice President of Global Business Partnerships Commercial Solutions.

Ms. Hunter also held senior leadership positions in commercial and strategic marketing for biologics and oncology at Centocor, a Johnson & Johnson company. She also led the oncology business at Wyeth (today part of Pfizer) in the United States and CNS and women’s health at Novo Nordisk in Denmark. Early in Ms. Hunter’s career, she held sales and marketing positions at Ciba-Geigy in Switzerland (today part of Novartis). She is currently on the boards of Bavarian Nordic A/S, Vicore Pharma Holdings AB and Sutro Biopharma, Inc. Ms. Hunter earned a B.A. from The University of Michigan and her M.B.A. from The University of Chicago – Booth School of Business.

 

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About IO102-IO103

IO102-IO103 is an investigational immune-modulating cancer vaccine designed to target the immunosuppressive mechanisms mediated by the proteins indoleamine 2,3-dioxygenase (IDO) and PD-L1. The company is currently conducting a Phase 3 trial (IOB-013/KN-D18; NCT05155254) evaluating IO102-IO103 in combination with pembrolizumab in first-line advanced melanoma patients, and a Phase 2 basket trial (IOB-022/KN-D38; NCT05077709).

About IO Biotech

IO Biotech is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer vaccines based on its T-win® vaccine platform. The T-win platform is a novel approach to cancer vaccines designed to activate T cells to target the most important immunosuppressive cells in the tumor microenvironment. IO Biotech is advancing in clinical studies its lead cancer vaccine candidate, IO102-IO103, targeting IDO and PD-L1, and through preclinical development its other pipeline candidates. IO Biotech is headquartered in Copenhagen, Denmark and has US headquarters in New York, New York.

For further information, please visit www.iobiotech.com.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including regarding future clinical trials and results, are based on IO Biotech’s current assumptions and expectations of future events and trends, which affect or may affect its business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Except to the extent required by law, IO Biotech undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise.

Contact:

Maryann Cimino, Director of Investor Relations

IO Biotech, Inc.

617-710-7305

mci@iobiotech.com

 

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v3.23.2
Document and Entity Information
Aug. 07, 2023
Cover [Abstract]  
Amendment Flag false
Entity Central Index Key 0001865494
Document Type 8-K
Document Period End Date Aug. 07, 2023
Entity Registrant Name IO BIOTECH, INC.
Entity Incorporation State Country Code DE
Entity File Number 001-41008
Entity Tax Identification Number 87-0909276
Entity Address, Address Line One Ole Maaløes Vej 3
Entity Address, Postal Zip Code DK-2200
Entity Address, City or Town Copenhagen N
Entity Address, Country DK
City Area Code +45
Local Phone Number 7070 2980
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common Stock, par value $0.001 per share
Trading Symbol IOBT
Security Exchange Name NASDAQ
Entity Emerging Growth Company true
Entity Ex Transition Period false
IO Biotech (NASDAQ:IOBT)
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