HBM Healthcare led a €127m Series B funding round in IO Biotech.

HBM Healthcare Investments, a Swiss investment company, led a €127m ($154m) Series B funding round in IO Biotech, a clinical stage biotech company. The round was also joined by Vivo Capital, Kurma Partners, Avoro Capital, RA Capital Management, Samsara Biocapital, Idinvest Partners, PFM Health Sciences, Soleus Capital, Eir Ventures and Serrado Capital, with the participation of existing investors Novo Seeds, Lundbeckfonden Emerge and Sunstone Life Science Ventures. "We are excited to have such a strong group of investors backing our company at this stage, and I am proud that this financing round had such high interest and can close oversubscribed. The funding will enable us to execute on our breakthrough therapy designation grant and advance our lead programs in late-stage clinical development, as we are committed to bringing our treatment to patients as soon as possible," Mai-Britt Zocca, IO Biotech Founder and CEO.