- Additional funding will be used to explore novel biology
around the MMR pathway and accelerate progression of the lead
program into candidate selection
LONDON, May 22, 2024 /PRNewswire/ -- NeoPhore
Limited, a small molecule neoantigen immuno-oncology
company, today announces that Bristol Myers Squibb (NYSE: BMY)
has joined its oversubscribed Series B extension round.
The additional investment from Bristol Myers Squibb will enable
NeoPhore to explore novel biology associated with the DNA mismatch
repair ('MMR') pathway in cancer, as well as further progress its
pre-clinical studies and deliver a candidate drug in 2025.
NeoPhore is focused on building a pipeline of small molecule
drugs targeting novel proteins across the MMR pathway to generate
next-generation immuno-oncology therapeutics to improve clinical
outcomes for cancer patients. Its first-in-class MMR inhibitors
induce neoantigen expression and increase immunogenicity in solid
tumours that become exquisitely sensitive to immunotherapy.
Dr Matthew Baker, Chief
Executive Officer of NeoPhore, said: "We are thrilled
to have Bristol Myers Squibb, an innovator in the immuno-oncology
space, join our oversubscribed Series B extension round. The
funding strengthens NeoPhore's position and enables us to complete
the necessary pre-clinical studies to deliver a candidate drug for
our lead PMS2 program in 2025."
Dr Robert James, Chairman of
NeoPhore, said: "The addition of Bristol Myers Squibb
to the Series B extension supports NeoPhore's novel approach to
targeting the MMR pathway with small molecule inhibitors to treat
cancer. Building on NeoPhore's successes in 2023, we hope to see a
year of progress for the Company's pre-clinical programs".
NOTES TO EDITORS
About NeoPhore Ltd
NeoPhore, UK is focused on the discovery and
development of novel small molecule therapies to treat cancer
through stimulation of the immune system. Generation of cancer
neoantigens in tumours can be exploited by the patients' immune
system to overcome natural defence mechanisms in cancer. The
Company's approach targets the DNA mismatch repair (MMR) pathway,
which has been proven to promote neoantigen creation and subsequent
immunity against numerous cancers. Using these insights, NeoPhore
aims to generate next-generation immuno-oncology therapeutics to
improve clinical outcomes for cancer patients. NeoPhore was
spun-out of the University of Turin and PhoreMost Ltd by the CRT Pioneer
Fund. For more information, please visit www.neophore.com
About Bristol Myers Squibb Company
Bristol Myers Squibb is a global
biopharmaceutical company whose mission is to discover, develop,
and deliver innovative medicines that help patients prevail over
serious diseases. For more information about Bristol Myers Squibb,
visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube,
Facebook, and Instagram.
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