On May 22, 2024 NeoPhore Limited, a small molecule neoantigen immuno-oncology company, reported that Bristol Myers Squibb (NYSE: BMY) has joined its oversubscribed Series B extension round (Press release, NeoPhore, MAY 22, 2024, View Source [SID1234643549]).
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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".