Solu Therapeutics for clinical testing of new antibody drugs for $41 million for hematologic cancer
Solu Therapeutics, a company that develops a novel antibody drug, announced a $41 million financing Wednesday to be used to test the treatment and potentially bring safer and more effective methods to hematologic cancer.
Boston-based Solu has begun administration in Phase 1 test of Lead Program STX-0712 to resistant or refractory chronic spinal cord leukemia (CMML) and other hematologic malignancies. The target of the drug is CCR2, a receptor that plays a role in the development and progression of cancer. Solu drug is designed to eliminate CCR2-positive cells. It does this in a novel way.
Antibodies and small molecules are perfect treatments for cancer. Solu said its approach fuses two ways to target cell surface proteins, otherwise it would not be resolved. The company uses small molecules to bind to elusive targets such as G protein-coupled receptors (GPCRs) and ion channels. CCR2 is GPCR.
Solu's molecules are bifunctional, with one arm binding to a cell surface target and the other associated with proprietary antibodies. Doing so will treat the properties and functions of the antibodies (e.g. longer in vivo durability). Solu said this approach could provide more targeted and effective treatments with minimal impact on healthy tissue.
“By directly depleting CCR2-positive malignant monocytes drive CMML, STX-0712 has the potential to provide highly specific and targeted treatments for patients currently with limited treatment options,” Chief Medical Officer Sergio Santillana said in a prepared statement.
At the annual meeting of the American Society of Hematology in December last year, Solu provided data showing that STX-0712 successfully depleted CCR2-positive cells in patient samples of CMML and acute myeloid leukemia. Tests of the drug in monkeys show that it is safe and well tolerated with good pharmacokinetic characteristics.
Solu's platform technology, known as targeted chimera (CYTAC) and its drug candidates, is licensed by GSK. The startup was founded by venture capital firm Longwood Fund. Solu appeared in 2023 behind a $31 million seed financing from Longwood and Santé Ventures. The company said its approach could be applied in immunology and other therapeutic areas in addition to cancer.
Series A financing announced Wednesday that new investors Eli Lilly & Company, Biovision Ventures, Pappas Capital, Hengdian Group Capital and Leukemia & Lymphoma & Lymphoma & Lymphoma & Lymphoma & Lymphoma & Lymphoma & Lymphoma & Lymphoma & Lymphoma Society treatment acceleration program were added. Longwood and Santé are also participating in the new financing with other early investors DCVC Bio, Astellas Venture Management and Alexandria Venture Investments.
With the new capital, Solu plans to complete dose upgrades and expansions of its lead CMML program. The company also plans to develop other drug candidates, including novel mast cell stop animals that it describes as immune diseases. In addition, Solu plans to launch new discovery programs for pathogenic cells and explore new applications of its platform technology.
Flickr users take photos with Creative Commons license
