SAN DIEGO, July 19, 2017 /PRNewswire/ -- Aspyrian Therapeutics, Inc., a biotechnology company developing precision-targeted cancer therapies based on the proprietary Photoimmunotherapy (PIT) platform, has closed $15.1 million as part of a Series B-1 financing round, expected to reach about $19 million in the next few weeks. The series B-1 financing was provided by private investors including Hiroshi Mikitani, the CEO of Rakuten Inc., and Chairman of Aspyrian Therapeutics' board. This financing will accelerate clinical development of its proprietary investigational compound, the antibody conjugate RM-1929, in recurrent head and neck cancer as well as other cancer areas. Development activities include initiating Phase 1 trials in Japan in 2017, completion of the ongoing Phase 2 study in the USA, initiation of a global pivotal clinical trial in the first half of 2018, and CMC manufacturing processes to support the launch and commercialization of RM-1929.
Aspyrian recently presented findings from an ongoing clinical trial of RM-1929 at the American Head & Neck Society meeting, April 27, 2017 in San Diego. The presentation received the American Head & Neck Society Poster of Distinction Award in the category of Clinical Trials/NMSC/Immunotherapy. More information available at: http://www.aspyriantherapeutics.com/news-room/
Aspyrian today announced that an abstract describing clinical study results of RM-1929 was accepted for presentation at European Society of Medical Oncology (ESMO) held in Madrid, Spain from 8th -12th September 2017.
In addition to the development of RM-1929, Aspyrian is progressing with preclinical development of new proprietary immune oncology approaches that rapidly eliminate the immunosuppressive tumor environment and elicit innate and adaptive systemic immune responses to destroy tumors that are resistant to other classes of immune modulators, such as anti-PD1 antibodies.
"We are honored to work with visionary private investors that support our long-term vision to create a fully integrated R&D and commercial biopharmaceutical company and realize our mission to conquer cancer. Aspyrian is fully committed to develop and commercialize novel and potentially transformative approaches to treat cancer, including RM-1929". said Miguel Garcia-Guzman, President and CEO of Aspyrian. "The Series B-1 funding will also support the progression into the clinic of novel proprietary ways to eliminate the immunosuppressive tumor environment. These approaches are designed to empower the patient's immune system so it can recognize its own tumor neoantigens and attack cancer cells, as a personalized treatment to conquer their disease".
RM-1929, a conjugate of Cetuximab and IRDye 700DX®, targets epidermal growth factor receptor (EGFR), a cancer antigen expressed in multiple types of solid tumors, including head and neck squamous cell carcinomas, esophagus, lung, colon, pancreas and other cancers. This first-in-class therapy uses an antibody conjugate to precisely target cancer cells after which it is locally activated with red light to elicit rapid anti-cancer responses. The dual specificity resulting from local activation of a tumor-selective conjugate promises to deliver oncologists the ability to achieve locoregional tumor control with minimal damage to surrounding healthy tissues and structures.
RM-1929 is an investigational compound that is not approved for any use in any country.
For more information on the clinical trial, please follow this link to the study record on ClinicalTrials.gov:
Study of RM-1929 and Photoimmunotherapy in Patients With Recurrent Head and Neck Cancer
About Aspyrian Therapeutics, Inc.
Aspyrian Therapeutics, Inc., is a privately funded clinical stage biotechnology company developing a new class of precision targeted oncologic drugs for the treatment of solid tumors based on the PIT platform licensed from the National Cancer Institute (NCI). Aspyrian has secured the exclusive license to use IRDye 700DX® from LI-COR (Lincoln, Nebraska) for development of PIT products. The Company is currently working with a number of monoclonal antibodies with the potential to treat various types of cancers, including head and neck, esophageal, lung, brain, pancreatic, colorectal, breast and ovarian.
Aspyrian Therapeutics, Inc. Forward Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause Aspyrian Therapeutics, Inc. actual results, plans and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. These "forward-looking" statements include statements relating to, among other things, the commercialization efforts and other regulatory or marketing approval efforts pertaining to Aspyrian Therapeutics' products such as RM-1929. Such approvals or success may not be obtained or achieved on a timely basis or at all. Forward-looking statements include statements relating to the potential benefits, safety and efficacy of RM-1929, and the status of current regulatory filings. These statements may be identified by words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "intends," "potential," "may," "suggest, "plan," "strategy," "should," "will" and similar expressions, and are based on our current beliefs and expectations. In addition, this press release include qualifying terms such as "significant,", "remarkable," "extraordinary," etc. that describe opinions on clinical data. Ongoing clinical studies involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of success in regulatory approval or commercialization of RM-1929 which may be impacted by, among other things, problems with the manufacturing process for RM-1929, the occurrence of adverse safety events, failure to demonstrate therapeutic benefit, and the other risks and uncertainties. We undertake no obligation to publicly update any forward-looking statement, whether because of new information, future developments or otherwise.
For more information please contact Abhijit Bhatia at: [email protected].
SOURCE Aspyrian Therapeutics, Inc.