Unique treatment could overcome treatment resistance and transform the fight against cancer
Grey Wolf Therapeutics Closes Oversubscribed $49 Million Series B Financing to Advance First-of-its-Kind Neoantigen Creation Approaches
Grey Wolf Therapeutics, a biotechnology company focused on generating entirely novel anti-tumour immune responses through targeted cancer neoantigen creation, announced the closing of an oversubscribed $49 million Series B financing. The financing was co-led by Pfizer Ventures and Earlybird Venture Capital, and also included investment from new investors Oxford Science Enterprises and British Patient Capital and existing investors Canaan and Andera Partners. Proceeds will support the continued development of the company's first-of-its-kind immuno-oncology approaches designed to overcome key resistance mechanisms through the creation of novel cancer antigens. This includes the anticipated advancement of the company's lead asset, GRWD5769, into a Phase 1/2 clinical trial in the first half of 2023.
Symbolic image
Computer-generated image
Grey Wolf Therapeutics' unique therapeutic strategy is centered on generating entirely novel immune responses against tumours thereby overcoming key resistance mechanisms to current immuno-oncology therapy such as poor tumour recognition by T cells and T cell exhaustion. This is achieved through targeted inhibition of the endoplasmic reticulum aminopeptidases (ERAP1 or ERAP2), which drives the generation and presentation of novel and potent cancer antigens to the surface of tumour cells, in turn eliciting a de novo T cell response against tumours.
The ground-breaking research and development activities conducted by the Grey Wolf team have generated a pipeline of novel ERAP inhibition programs, led by GRWD5769, a potentially first-in-class ERAP1 inhibitor. During the first half of 2023, the company intends to initiate an adaptive Phase 1/2 clinical trial evaluating the safety, tolerability, and efficacy of GRWD5769, including a planned combination with the PD-1 inhibitor Libtayo® (cemiplimab), in a range of solid tumour types. Additionally, the company will direct a portion of the Series B proceeds to follow-on programs including efforts focused on ERAP2 inhibition and the identification of entirely novel cancer antigens that can be targeted with MHC Class I directed therapies, such as soluble T cell receptor (TCR) and TCR mimic bispecifics.
"This syndicate of leading life science industry investors brings a wealth of relevant expertise and resources to Grey Wolf at a critical time in our evolution as we prepare to enter the clinic," said Peter Joyce, Ph.D., chief executive officer of Grey Wolf Therapeutics. "The funding these groups have committed to Grey Wolf will not only support our efforts to demonstrate clinical proof-of-concept for ERAP inhibition with our lead program, but it will also drive our continued scientific exploration in this area as we aim to further advance and broaden our pipeline of first-of-their-kind therapeutics."
"The scientific ground being pursued by the Grey Wolf team is fertile with potential solutions for overcoming two of the most significant resistance mechanisms limiting current immune-oncology therapies – poor tumour visibility and T cell exhaustion," said Marie-Claire Peakman, Ph.D., principal with Pfizer Ventures. "We look forward to supporting the company as it enters the clinical setting and works to develop an actionable and completely novel therapeutic approach."
"We believe Grey Wolf is establishing the next essential pillar in oncology treatment, with the potential to overcome treatment resistance and change the game for attacking cancer," said Rabab Nasrallah, Ph.D., principal, Earlybird Venture Capital. "Importantly, preclinical research suggests that the company's elegant treatment approach holds great promise as a monotherapy, as well as the potential to synergistically improve outcomes when used in rational combination with other anti-cancer agents including immune checkpoint inhibitors. This flexibility further amplifies the potential breadth of impact these investigational therapeutics may have in treating patients."
In conjunction with the financing, Grey Wolf Therapeutics has announced several new appointees to its board of directors including:
- Sally Dewhurst, senior associate, Oxford Science Enterprises
- Emma Johnson, investment manager, British Patient Capital
- Rabab Nasrallah, principal, Earlybird Venture Capital
- Marie-Claire Peakman, principal, Pfizer Ventures
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
More news from our other portals
Something is happening in the life science industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.
© 1997-2024 LUMITOS AG, All rights reserved
