Little European biotech Sotio nabs a super $316M funding round for its superagonist work

In one of the biggest funding rounds for a European biotech ever, Czech Republic cancer company Sotio Biotech has grabbed a huge 280 million euro ($316 million) raise.

The immuno-oncology company, owned by the PPF Group, will use the cash to boost work on its lead asset SOT101, an IL-15 superagonist, along with three other new clinical programs, giving it a runway until the end of 2023. The mighty raise comes with stipulations, however, and the biotech must hit certain milestone to see all of it.