Securing strategic partnerships, funding and investment: an interview with Eric Halioua

In this interview, Eric Halioua reflects on the start, success and momentum of PDC*line Pharma (Liège, Belgium), a clinical-stage biotechnology company developing allogeneic cellular immunotherapies for cancer. He also shares three top tips for start-up companies on their investment and funding journey and highlights the importance of connecting through conferences.

Eric Halioua, President and CEO of PDC*line Pharma, has over 30 years of experience in biotechnology. He has led the development of four drug candidates into clinical trials (up to Phase IIb) and raised over US$180 million from investors across the US, Europe, Japan and South Korea.

He has worked on advanced therapies, including injectable autologous myoblasts for heart repair, hepatic progenitors for enzyme replacement and co-invented the first GMP-approved mobile manufacturing unit for cell therapy.

At PDC*line Pharma, he is focused on off-the-shelf cancer immunotherapies based on an immortalized plasmacytoid dendritic cell line derived from the blood of leukemia patients.

Please can you tell us a little bit about PDC*line Pharma.

Founded in 2014 as a spin-off of the French Blood Bank (EFS), PDC*line Pharma is a Belgian-French clinical-stage biotech company that develops an innovative class of active immunotherapies for cancers, based on a GMP-grade allogeneic therapeutic cell line of Plasmacytoid Dendritic Cells (PDC*line). PDC*line is much more potent than conventional dendritic cell-based vaccines in priming and boosting antitumor antigen-specific cytotoxic T-cells, including the T-cells specific for neoantigens, and is synergistic with checkpoint inhibitors. The technology can potentially be applied to any type of cancer. Following a first-in-human phase I feasibility study in melanoma, PDC*line Pharma focuses on the development of PDC*lung01, a candidate for Non-Small-Cell Lung Cancer (NSCLC) currently in Phase I/II trials, and PDC*neo with neoantigens in preclinical development.

Since being in the industry, what has been a significant moment that has pivoted the success of PDC*line Pharma?

One of the most pivotal moments for PDC*line Pharma was securing a significant strategic partnership with LG Chem Life Sciences (Seoul), a major player in South Korea. This collaboration not only provided crucial funding but also validated our technology on an international scale and provided access to South Korean investors. We raised US$23 million in 2019, the same year we signed the deal with LG Chem. That funding supported the launch of our clinical trial, with the first patient dosed in January 2020 – just before COVID-19. It was a challenging period, but we adapted.

Another key milestone was the successful completion of early clinical trials, where we demonstrated a favorable safety profile and promising immunogenicity results for our lead candidate in non-small cell lung cancer. In 2021, we completed a US$20 million Series B2 round with KIP (Seoul, South Korea), SFPI (Brussels, Belgium), Wallonie Entreprendre (Liège, Belgium) and others, which further supported the development of our pipeline.

Next year, we plan to raise US$62 million in a Series C round to fund a randomized Phase II trial in the same indication. We’re also preparing a colorectal cancer trial using our personalized cancer vaccine and exploring new licensing opportunities.

What have been some of the challenges you or PDC*line Pharma have faced in the industry?

The biotech industry is inherently challenging, especially for companies developing innovative therapies. Like most start-ups, securing funding over the past nine years in a highly competitive field has required persistence and a clear vision to convince stakeholders of our potential. Growing the organization with the right processes and talent has required both experience and focus.

Regulatory complexities are another major hurdle, especially when navigating clinical trials for advanced therapies.

Do you have any advice for any startup companies or anyone thinking of entering the industry and needing funding or investment?

My advice is threefold:

• Focus on differentiation: Clearly articulate what sets your technology apart from competitors. Investors need to see why your approach is unique and impactful.
• Build the right team: Surround yourself with experienced professionals in science, business development and regulatory affairs. A strong team inspires confidence among stakeholders.
• Think globally: From the start, consider markets beyond your home region. Collaborations with international partners or investors can accelerate growth and bring diverse expertise.

Why are events like Cell & Gene Therapy International Europe so important?

Events like Cell & Gene Therapy International Europe are vital for fostering collaboration and innovation in the biotech ecosystem. They provide a platform to share cutting-edge research, network with potential partners and investors, and stay updated on industry trends. For PDC*line Pharma, these events are an opportunity to showcase our progress, gain visibility and engage with the broader scientific and business community working toward transformative therapies.

What can we expect from PDC*line Pharma in the next year or two?

In the next 12-18 months, you can expect us to continue advancing our clinical trials, with a focus on moving towards larger randomized Phase II trials for lung cancer. We’re also exploring planning the launch of a new clinical trial in Q1 2026 with PDC*Neo, our personalized neoantigens based vaccine for colorectal cancer patients. We are looking to raise a new round of financing of US$62 million next year (Round C) to finance both clinical trials.

Additionally, we’re looking to expand our pipeline into other cancer indications. On the business side, we plan to expand our global partnerships and explore opportunities for licensing agreements. Our goal is to make meaningful strides toward bringing innovative cancer immunotherapies closer to patients.

The opinions expressed in this interview are those of the interviewee and do not necessarily reflect the views of RegMedNet or Taylor & Francis Group.