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Swiss Biotech Nouscom Raises €120 Million to Test a Vaccine Designed to Prevent Cancer Before It Starts

Basel-based Nouscom has raised €120 million in an oversubscribed Series D co-led by M Ventures and Revelation Partners to fund a global registration-enabling study of NOUS-209, an experimental immunotherapy intended to prevent cancer in people with Lynch syndrome, an inherited condition that sharply raises the risk of colorectal and other cancers.

By Prathista Lazar · Author20 October 2026New
Swiss Biotech Nouscom Raises €120 Million to Test a Vaccine Designed to Prevent Cancer Before It Starts

Most cancer treatments are designed to attack a disease that has already taken hold. Nouscom, a Swiss biotechnology company, is pursuing a more ambitious goal: preventing cancer from developing in the first place in people who carry an inherited risk. It has just raised substantial capital to put that idea to its most important test.

The Basel-based company announced on October 19 that it has raised €120 million, or about $135 million, in an oversubscribed Series D financing. The round was co-led by M Ventures, the corporate venture arm of German science and technology group Merck KGaA, and Revelation Partners.

New investors include Italian pharmaceutical group Angelini Industries, the European Investment Bank through its Aurea co-investment facility, and Italian investor Neva SGR. Existing investors, including 5AM Ventures, Andera Partners, Bpifrance, EQT Life Sciences, Versant Ventures and CDP Venture Capital, also participated. The company's valuation and total funding raised were not disclosed.

A vaccine for people at inherited risk

Nouscom's lead product is NOUS-209, an experimental immunotherapy designed to prevent cancer in people with Lynch syndrome. The funds will support a global registration-enabling clinical study, the kind of large trial needed to seek regulatory approval.

Lynch syndrome is an inherited condition caused by mutations in genes responsible for repairing errors in DNA. People with the syndrome have significantly elevated risks of developing colorectal cancer, as well as cancers of the endometrium, stomach, ovaries, urinary tract and other organs, often at younger ages than the general population. It is one of the most common hereditary cancer syndromes, although many carriers are unaware they have it.

Currently, people with Lynch syndrome are typically managed through frequent screening, such as regular colonoscopies to detect and remove precancerous growths, and in some cases preventive surgery. These measures reduce risk but do not eliminate it, and they can be burdensome for patients.

How NOUS-209 is designed to work

Because the DNA repair system in Lynch syndrome is faulty, cells accumulate mutations that produce abnormal proteins, known as neoantigens. Tumours that develop in Lynch syndrome patients tend to share certain common neoantigens arising from these characteristic mutations.

NOUS-209 is designed to train the immune system to recognise these shared neoantigens, so that it can identify and destroy abnormal cells before they develop into cancer. Because the neoantigens are shared across many patients, the vaccine can be produced as an "off-the-shelf" product rather than personalised for each individual, which could make it more practical and affordable than personalised cancer vaccines.

According to reports, the company has seen encouraging early clinical observations, although these remain preliminary. The registration-enabling study will be designed to provide the robust evidence regulators require.

The rise of cancer vaccines

Cancer vaccines have long been a goal of medical research, but early efforts largely failed to show clear benefits. Advances in genomics, immunology and vaccine technology, including the mRNA platforms that proved themselves during the Covid-19 pandemic, have revived interest in the field.

Most recent progress has focused on therapeutic vaccines, which aim to help the immune system fight existing cancers or prevent recurrence after surgery. Moderna and Merck & Co., for example, have developed a personalised mRNA vaccine for melanoma. Preventive cancer vaccines for people at high genetic risk, such as those with Lynch syndrome, represent a newer and potentially transformative frontier.

“Most cancer medicine waits for the disease to appear. Nouscom is betting it can stop cancer in people who are known to be at risk.”
— TIGI Impact Desk

Existing preventive vaccines have already shown what is possible. The HPV vaccine, which protects against the virus that causes most cervical cancers, has dramatically reduced rates of cervical precancers in countries with high vaccination coverage.

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Why investors are backing it

The size of the round, in a difficult funding environment for biotech, reflects investor confidence in Nouscom's approach and the significant unmet need. A successful preventive vaccine for Lynch syndrome could benefit a large population of carriers worldwide and potentially be extended to other conditions.

The participation of the European Investment Bank highlights the strategic importance European policymakers place on life sciences innovation. The EIB has been investing in biotech and medical research as part of efforts to strengthen Europe's competitiveness in healthcare.

Biotech funding has been more selective in recent years, with investors favouring companies with late-stage assets and clear paths to approval. Nouscom's move into a registration-enabling study places it in that category.

What it means for India

Hereditary cancer syndromes are underdiagnosed in India, where genetic testing remains limited and expensive for most patients. Colorectal cancer rates in India are lower than in Western countries but have been rising, particularly among younger people in urban areas. Greater awareness of conditions such as Lynch syndrome, combined with affordable genetic testing, could help identify people at high risk who might benefit from preventive strategies.

India's growing genomics sector, including startups offering genetic testing and research institutions building population-scale genetic databases, could play a role in identifying candidates for preventive therapies in the future.

The economics of prevention

Preventive therapies face a distinct challenge: they must be extremely safe, because they are given to healthy people who may never develop the disease. Regulators set a high bar for evidence, requiring large trials to show that the benefits clearly outweigh any risks. Trials of preventive treatments can also take longer, since researchers must wait to see whether participants develop the disease over time.

At the same time, prevention can be highly cost-effective for health systems. Treating advanced cancer is expensive, involving surgery, chemotherapy, radiotherapy and increasingly costly targeted drugs and immunotherapies. A vaccine that significantly reduces cancer incidence in a high-risk group could reduce long-term healthcare costs as well as suffering, which is part of why investors see a large opportunity in the field.

What comes next

Nouscom will now focus on launching and running its global registration study, a process that typically takes several years. Results from the trial will determine whether NOUS-209 can become the first approved vaccine to prevent cancer in people with Lynch syndrome.

If successful, the vaccine could mark a turning point in oncology, shifting part of the focus from treating cancer to preventing it in those known to be at risk. For families affected by hereditary cancer, that prospect offers real hope.

The European biotech sector has been seeking to keep promising companies at home rather than see them move to the United States in search of capital. Large rounds like Nouscom's, supported by public institutions such as the European Investment Bank, are part of an effort to build European champions in life sciences that can carry innovations from the laboratory all the way to patients.

TagsNouscomNOUS-209cancer vaccinecancer preventionLynch syndromecolorectal cancerimmunotherapybiotechSeries DM VenturesRevelation PartnersEuropean Investment BankAngelini IndustriesBaseloncologyhereditary cancerhealthcare innovationventure capitallife sciencespreventive medicine

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