Funds increase stakes on Danish cancer company and are ready with new millions

The owners behind cancer treatment firm IO Biotech, three major Danish funds, have increased their stakes in the company with an investment of DKK 33.5m adding onto spring's capital injection. However, it's still far from the DKK 370m IO Biotech aimed to raise in 2018.
The existing investors in IO Biotech, which develops cancer drugs, now add significantly more funds to the Copenhagen-based company. | Foto: Gilead Sciences/Reuters/Ritzau Scanpix
The existing investors in IO Biotech, which develops cancer drugs, now add significantly more funds to the Copenhagen-based company. | Foto: Gilead Sciences/Reuters/Ritzau Scanpix
BY ALBERT RØNNING-ANDERSSON, TRANSLATED BY NIELSINE NIELSEN

Biotech company IO Biotech's investors have so much faith in the management of the company – which develops drugs against cancer – that it's practically throwing money at the Copenhagen-based firm.

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