Nouscom, a clinical-stage biotech based in Basel, Switzerland, has closed an oversubscribed Series D round of €120m (about $134.7m). The company announced the financing on 19 October 2026 and put the figure at about $135m.
M Ventures and Revelation Partners co-led the round. Three new investors joined: Angelini Industries through Angelini Investments, the European Investment Bank through Aurea, its co-investment facility with Angelini Ventures, and Neva SGR, part of Intesa Sanpaolo Group. Nouscom did not disclose a valuation.
The money will fund one global, registration-enabling trial of the company's lead candidate, NOUS-209, in carriers of Lynch syndrome, an inherited condition linked to a high risk of colorectal cancer. Udier said in the announcement that, until now, there has been nothing to offer such carriers but surveillance and surgery.
“What sets Nouscom apart is its unique cancer interception approach and the platform that enables it.”Hakan Goker, Managing Director and Head of Biotechnology Investments, M Ventures
What Nouscom does
Nouscom develops neoantigen-targeted cancer immunotherapies intended for all stages of the disease. Its products are built on proprietary viral vectors, and the company works on both off-the-shelf vaccines and a personalised candidate, NOUS-PEV.
NOUS-209 is an off-the-shelf vaccine for tumours with mismatch repair deficiency and microsatellite instability, a feature of cancers linked to Lynch syndrome. It uses two viral vectors to deliver 209 shared frameshift neoantigens. The US Food and Drug Administration has granted it Fast Track designation for the Lynch syndrome trial.
The company has also tested NOUS-209 in advanced colorectal cancer. According to European Biotechnology Magazine, Phase 2 studies combining it with Merck's Keytruda in MSI-high metastatic colorectal cancer met their primary endpoints, but Nouscom is now concentrating on cancer interception in Lynch syndrome. The same report said NOUS-PEV remains in the pipeline but is not an immediate priority.
The clinical case
The financing rests on data from a Phase 1b/2 trial in Lynch syndrome carriers, run with the US National Cancer Institute's Cancer Prevention Clinical Trials Network and a consortium at MD Anderson Cancer Center. According to the company, none of the evaluable participants developed advanced adenomas or colorectal cancer, as checked by colonoscopy, at year one (43 people) or year two (17 people). The vaccine produced broad and lasting T-cell responses, which grew stronger after annual re-vaccination.
The study had no concurrent control group. Chief executive Marina Udier told European Biotechnology Magazine that, based on historical data, about three events would have been expected across the 60 observations. Longer-term data are due to be presented at the ESMO congress in Madrid on 25 October 2026 by Eduardo Vilar-Sanchez of MD Anderson.
Udier said in the announcement that the financing "puts us closer to a world where cancer is stopped before it starts".
Who invested
All existing investors took part, the company said. They include 5AM Ventures, Andera Partners, Angelini Ventures, Bpifrance through its InnoBio2 fund, CDP Venture Capital through its Large Ventures Fund, EQT Life Sciences, Indaco Venture Partners, Panakes Partners, Versant Ventures and XGEN Ventures. The release said Angelini Ventures has backed the company since its Series C; amounts for earlier rounds were not given.
Hakan Goker, managing director and head of biotechnology investments at M Ventures, pointed to the company's cancer interception approach and the platform behind it. Sergio Marullo di Condojanni, chief executive of Angelini Industries, said the group sees significant potential in the approach to cancer prevention in Lynch syndrome.
What comes next
According to European Biotechnology Magazine, the design of the pivotal study has been discussed and agreed with both the FDA and the European Medicines Agency, and its primary endpoint will be event-free survival, counting both precancerous events and cancer. Full details will be released when the trial is registered in the coming months.
The company did not confirm to the magazine whether the new money will carry the programme as far as a regulatory submission, and said it will assess further financing as development progresses. Udier said partnerships would be considered as the programme matures.
Company website: nouscom.com