On December 15, 2022 Jalon Therapeutics reported that it has obtained nearly 2 million euros for its first-in-class drug candidate JRT39 is in advanced preclinical development (Press release, Jalon Therapeutics, DEC 15, 2022, View Source [SID1234628535]).
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After a seed funding of €625,000 raised at the beginning of 2022 from Family offices and Business Angels, Jalon Therapeutics won the Innov’Up PIA call for an amount of €450,000 and issued convertible bonds subscribed by BPI France on November 29, 2022 for an amount of €450,000. In 2021, the company won the "Bourse French Tech" and then the "I-Lab" price, collecting cumulative funding of €440,000 that year.
Created in 2021, Jalon Therapeutics develops a portfolio of oncology products resulting from an innovative therapeutic strategy focused on inhibiting the cellular functions of the AAC-11 protein. To maintain the survival of tumor cells, AAC-11 binds to protein partners. Jalon Therapeutics has developed peptides which, acting as molecular decoys inside the cell, block these interactions. In addition, Jalon Therapeutics peptides bind to AAC-11 partners also present in the membrane of tumor cells, triggering their destruction by membranolysis. These targeted mechanisms potentially address a wide variety of cancers, as indicated by preclinical in-vitro and invivo efficacy studies.
The fully patented approach (Inserm Transfert License agreements) selected by Jalon Therapeutics stems from the pioneering research of Jean-Luc Poyet (Inserm, Hôpital St Louis), an expert in cell-penetrating peptides and in the modulation of proteinprotein interactions. The project is backed by Professors Martine Bagot and Hervé Dombret from Saint Louis Hospital where Jalon Therapeutics has established its own laboratory team. The governance of the company combines several seasoned professionals in the industry all of whom have strong experience in the development and financing of drug candidates in oncology.
"We are proud to have raised these funds, which allow us to pursue our preclinical characterization studies," commented Jérôme Tiollier, Executive Chairman and cofounder of Jalon Therapeutics, and David Loison, CEO. The company now aims to raise the capital needed to finance the regulatory studies prior to future phase I/II clinical trials as well as proof of clinical concept.