NeoTX Closes $45 Million Series C Financing
February 19 2020 - 2:00AM
NeoTX Therapeutics, a clinical-stage biotechnology company
leveraging its proprietary Selective T cell Redirection (STR)
platform to develop targeted anticancer immunotherapies, has closed
a $45 million Series C financing. In conjunction with the
financing, former vice chairman of The Blackstone Group, J.
Tomilson Hill, Chairman of NDFOS Co., Ltd, Andrew Kim, Paul T.
Marinelli and Nobel laureate Dr. Roger Kornberg, the chief
scientific officer of NeoTX have joined the NeoTX Board of
Directors. To date, NeoTX has raised over $60 million. NeoTX plans
to use the Series C proceeds to advance its STR platform for the
treatment of advanced and metastatic solid tumors as well as to
in-license new technologies.
“With the funds raised in this financing, we intend to complete
the dose escalation phase of the Phase 1b trial of naptumomab
estafenatox (“Nap”) in combination with durvalumab and
continue to develop our patented STR platform,” said Asher Nathan,
chief executive officer of NeoTX. “Our platform, which uniquely
leverages the body’s natural antibacterial immune response to
selectively redirect T cells to kill the tumor, has the potential
to be applicable in a variety of solid tumor indications and in
combination with other immunotherapies. We look forward to the
clinical advancement of Nap and expanding our platform in order to
provide new options to patients suffering from advanced
cancers.”
The open-label, multicenter, dose-finding Phase 1b study of Nap
(NCT03983954) is currently enrolling. Patients are dosed with a
combination of Nap and AstraZeneca’s (NYSE: AZN) checkpoint
inhibitor IMFINZI® (durvalumab). NeoTX aims to establish the
maximum tolerated dose before advancing to a larger cohort
expansion phase in the Unites States.
About NeoTX
NeoTX is a clinical-stage biotechnology company leveraging its
proprietary Selective T cell Redirection (STR) platform to develop
new targeted anticancer immunotherapies. STR binds a genetically
engineered bacterial determinant to the tumor surface while
simultaneously activating immune cells away from the suppressive
tumor environment to mount an effective antibacterial response. The
company’s lead STR molecule, naptumomab estafenatox (Nap) is
currently in clinical development for advanced solid tumors. For
more information, please visit www.neotx.com.
Media Contact: Cait Williamson, Ph.D. LifeSci
Communications (646) 751-4366cait@lifescicomms.com
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