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news.Akamis Bio has secured $60m in funding, marking the close of a Series A Prime financing round, which will propel the development of its clinical candidate, NG-350A, for treating locally advanced rectal cancer (LARC), through study.
The investment will support the advancement of NG-350A through a Phase Ib clinical proof-of-concept study. Credit: National Cancer Institute on Unsplash.
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The investment will specifically support the development of NG-350A through a Phase Ib clinical proof-of-concept study, FORTRESS which will assess the clinical complete response rates of the therapy when used in conjunction with chemoradiotherapy in adults with LARC who present minimum one risk factor for recurrence.
The financing round was spearheaded by Sedgwick Yard.
Administered intravenously, NG-350A is a gene therapy designed to drive the expression of a CD40 agonist monoclonal antibody present in tumours. This approach is designed to target both primary and metastatic epithelial-derived solid tumours.
In conjunction with this funding, the company has welcomed two new persons to its Board of Directors: Richard Shen and Adrian Chan, managing directors at Sedgwick Yard.
Akamis Bio CEO Howard Davis said: “The Sedgwick Yard-led Series A Prime financing and Xuanzhu Biopharma licensing deal demonstrates our shared commitment with these partners to rapidly advancing NG-350A while also demonstrating the broader potential of T-SIGn.
“Compelling clinical data from our prior studies have shown the consistent safety profile of T-SIGn, as well as the potential of intravenously-delivered NG-350A to drive sustained transgene expression capable of altering the tumour microenvironment. Our aim over the next 12-18 months is to deliver clinical proof-of-concept data for NG-350A via the FORTRESS study.”
In another development, the company has entered into a licensing agreement with Xuanzhu Biopharma in which the latter gains the rights to NG-350A in the Greater China Region.
This agreement includes undisclosed upfront payments to Akamis, along with potential regulatory and sales milestones, and tiered royalties on sales within the region.
Akamis’ T-SIGn therapy platform is instrumental in delivering new immunotherapeutic proteins and transgene combinations, targeting solid tumours with precision.
