On December 18, 2024 General Proximity reported the company has raised an $8 million seed to grow its drug discovery platform, CEO Armand Cognetta tells Axios exclusively (Press release, General Proximity, DEC 18, 2024, View Source [SID1234649817]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Why it matters: The company’s approach shows promise in identifying drug candidates for difficult-to-treat conditions like dementia.

How it works: The company’s platform uses proximity therapeutics to take an "undruggable" protein or enzyme and force it in proximity with a drug target.
‍
"Cells can simplistically be thought of as containers to hold things together to drive chemical reactions," he says.
The company’s platform is a tool to discover which of these "proximity events" are the most therapeutically useful. It’s currently focused on cancer, neurodegeneration and longevity.
"These insights then guide our development of precision therapeutics that recapitulate these interactions," he adds.
Zoom in: The round was led by Aydin Senkut, founder of VC firm Felicis.
‍
Other investors include Y Combinator, age1, Modi Ventures and Wilson Sonsini, alongside several angel investors.
Catch up quick: The San Francisco company has received five "Golden Ticket" awards from major pharma pitch competitions, which grant startups access to lab space and mentorship.

Yes, but: General Proximity struggled for years until it found a lead for its seed round and "almost ran out of money a few times," Cognetta says.

What they’re saying: "It happens in biotech — where early on, they don’t get the benefit of the doubt and you really have to grind," says Senkut.

Most VCs looking at Cognetta’s proximity approach might think, "’For 30 years, no one has figured this out, so what makes this different?’ We believe in this method and are willing to take the leap of faith with him," Senkut says.

On December 18, 2024 Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology, reported five presentations featuring botensilimab (BOT, an Fc-enhanced anti-CTLA-4 antibody) plus balstilimab (BAL, an anti-PD-1 antibody) at the upcoming American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Gastrointestinal Cancers (ASCO GI) Symposium (Press release, Agenus, DEC 18, 2024, View Source [SID1234649207]). The conference will take place on January 23-25, 2025, in San Francisco, California.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The presentations will showcase BOT/BAL’s activity across three distinct colorectal cancer settings—late-line metastatic, first-line, and neoadjuvant treatment. The studies demonstrate BOT/BAL’s consistent activity in microsatellite stable (MSS) colorectal cancer (CRC), which accounts for over 80% of CRC cases and has limited treatment options, as well as its efficacy in microsatellite instability-high (MSI-H) CRC. Additionally, one presentation will feature BOT/BAL and invariant natural killer T cells (iNKTs) in patients with refractory gastric cancer.

"These presentations will highlight BOT/BAL’s potential to benefit patients across colorectal cancer treatment settings, including the neoadjuvant, late-line, and first-line settings," said Dr. Garo Armen, Chairman and CEO of Agenus. "We aim to transform outcomes at every stage of disease and deliver renewed hope for patients worldwide."

Presentation Details

Abstract Title: Preliminary results from a randomized, open-label, phase 2 study of botensilimab (BOT) with or without balstilimab (BAL) in refractory microsatellite stable metastatic colorectal cancer with no liver metastases (MSS mCRC NLM)*
Abstract Number: 23
Presenting Author: Dr. Marwan Fakih
Session: Rapid Oral Abstract Session C: Cancers of the Colon, Rectum, and Anus
Session Date and Time: 1/25/2025, 9:15 AM-10:00 AM PST

Abstract Title: Preoperative botensilimab (BOT) with or without balstilimab (BAL) for patients with resectable locally advanced pMMR or dMMR colon cancer: Results from the UNICORN trial by GONO
Abstract Number: 158
Presenting Author: Dr. Filippo Ghelardi
Session: Poster Session C: Cancers of the Colon, Rectum, and Anus
Session Date and Time: 1/25/2025, 7:00 AM-7:55 AM PST

Abstract Title: A phase II study of agenT-797 (invariant natural killer T-cells), botensilimab (Fc-enhanced CTLA-4 inhibitor) and balstilimab (anti-PD-1) in patients with advanced, refractory gastroesophageal adenocarcinoma
Abstract Number: TPS515
Presenting Author: Dr. Samuel Cytryn
Session: Trials in Progress Poster Session A: Cancers of the Esophagus and Stomach and Other Gastrointestinal Cancers
Session Date and Time: 1/23/2025, 11:30 AM-1:00 PM PST

Abstract Title: Neoadjuvant botensilimab (BOT) plus balstilimab (BAL) in resectable mismatch repair proficient (pMMR) and deficient (dMMR) colorectal cancer (CRC): NEST clinical trial update
Abstract Number: 207
Presenting Author: Dr. Erika Hissong
Session: Poster Session C: Cancers of the Colon, Rectum, and Anus
Session Date and Time: 1/25/2025, 7:00 AM-7:55 AM PST

Abstract Title: A phase 1 trial of folinic acid, fluorouracil, oxaliplatin, bevacizumab, botensilimab, balstilimab (FOLFOX-3B) in microsatellite stable metastatic colorectal cancer.
Abstract Number: 180
Presenting Author: Dr. Marwan Fakih
Session: Poster Session C: Cancers of the Colon, Rectum, and Anus
Session Date and Time: 1/25/2025, 7:00 AM-7:55 AM PST

Complete abstracts will be released at 5:00 PM ET on January 21st, 2025. Data presented at the conference will be available to view in the publications section of the Agenus website (View Source) following the ASCO (Free ASCO Whitepaper) GI Meeting.

On December 18, 2024 Iambic Therapeutics, a clinical-stage biotechnology company developing novel therapeutics using its unique AI-driven discovery platform, reported that Tom Miller, Ph.D., Iambic’s Chief Executive Officer and Co-Founder, will present at the 43rd Annual JP Morgan Healthcare Conference (Press release, Iambic Therapeutics, DEC 18, 2024, View Source [SID1234649206]). The presentation will take place on Tuesday, January 14th, at 5 p.m. PT at the Westin St. Francis Hotel in San Francisco.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Dr. Miller will detail progress and anticipated milestones for Iambic’s emerging pipeline of development candidates, as well as advances to its AI drug discovery platform. The Company’s pipeline currently includes IAM1363, a highly selective, brain penetrant small molecule inhibitor of both wild-type and oncogenic HER2 mutants currently in a Phase 1/1b study, as well as a potential first-in-class selective dual CDK2/4 inhibitor for multiple cancer indications, an allosteric inhibitor for KIF18A, and additional new programs.

On December 18, 2024 Xcovery Holdings, Inc., an oncology focused pharmaceutical company, reported that the U.S. Food and Drug Administration (FDA) has approved ensartinib (Ensacove, Xcovery Holdings, Inc.) for the treatment of patients with anaplastic lymphoma kinase (ALK)-positive locally advanced or metastatic non-small cell lung cancer (NSCLC) (Press release, Xcovery, DEC 18, 2024, View Source [SID1234649205]). This approval marks an important advancement in providing a new first line option for patients with ALK-positive NSCLC.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Ensartinib is an ALK tyrosine kinase inhibitor (TKI) designed to improve outcomes for patients with ALK-positive NSCLC. The FDA approval is based on data from the pivotal global Phase III eXalt3 clinical trial, in which ensartinib demonstrated statistically significant improvements in progression-free survival (PFS) over crizotinib.

"The approval of Ensartinib by FDA brings another new medicine to patients battling ALK-positive NSCLC, expanding the options to optimize treatment in the first-line setting. This result could not have been achieved without the dedication of our team members and the support of patients, physicians, and all stakeholders involved in the clinical development of Ensartinib," said Giovanni Selvaggi, Chief Medical Officer of Xcovery.

"FDA approval of Ensartinib represents a significant milestone in Xcovery’s mission to advance precision medicine for patients with cancer," said Kevin Sang, CEO of Xcovery. "In addition to Ensartinib, we are continuing our efforts in developing more pipeline targeted drugs for patients worldwide."

About Ensartinib

Ensartinib is a next generation ALK inhibitor jointly developed by Xcovery and Betta Pharmaceuticals. It is indicated for the treatment of adult patients with ALK-positive locally advanced or metastatic NSCLC.

On December 18, 2024 Inceptor Bio, a leading innovator in cell therapy, and GRIT Bio, a clinical-stage immunotherapy developer, reported a strategic partnership to advance IB-T101, a potentially best-in-class CAR-T therapy targeting solid tumors (Press release, Inceptor Bio, DEC 18, 2024, View Source [SID1234649204]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

IB-T101, Inceptor Bio’s autologous CD70 CAR-T program, utilizes the proprietary OUTLAST platform to reprogram T cells for superior stemness, durability, and effector function in the hostile tumor microenvironment. The program targets clear cell Renal Cell Carcinoma (ccRCC), a cancer with significant unmet medical need and over 300,000 new cases annually worldwide.

"We are excited to partner with GRIT Bio to bring IB-T101 into the clinic and address the urgent need for effective solid tumor therapies," said Dr. Matthias Schroff, CEO of Inceptor Bio. "This collaboration highlights the potential of our proprietary OUTLAST platform, and the data generated will play a critical role in advancing the program as we strive to deliver best-in-class therapies for patients."

Dr. Mengyang Chong, Chief Business Officer of GRIT Bio, shared, "Partnering with Inceptor Bio allows us to bring a highly differentiated CAR-T program to patients. IB-T101 has the potential to transform the treatment landscape for solid tumors, and we are eager to contribute our expertise in clinical development and manufacturing to accelerate its progress."

Under the terms of the agreement, Inceptor Bio will grant GRIT Bio an exclusive license for IB-T101 in China. GRIT Bio will oversee development, manufacturing, and commercialization. Inceptor Bio is eligible to receive milestone payments and royalties upon IB-T101 achieving certain response criteria and plans to leverage clinical data from this collaboration to support regulatory submissions and development in other regions.

This partnership represents a critical step in Inceptor Bio’s mission to validate the OUTLAST platform as a best-in-class approach for engineered T cell therapies and bring transformative treatments to patients worldwide.