OS Therapies Completes $6 Million Series A Funding Round
Led by Noble Capital Markets and Tichenor Ventures to Fund OST-HER2 PhIIb Trial and OST-TDC Preclinical Next Generation ADC
CAMBRIDGE, Md., April 20, 2021 /PRNewswire/ -- OS Therapies, a clinical-stage biopharmaceutical company focused on discovering and developing innovative therapies to treat and cure Osteosarcoma (OS) and other deadly cancers in kids and adults including ovarian, esophageal, endometrial and lung cancers, today announced the closing of a $6 million Series A round of funding.
The company's lead product is OST-HER2 targeting Osteosarcoma in kids, which is a listeria cancer vaccine intended to prevent metastasis, increasing overall survival.
"Our primary focus is to get this done: to ensure that this leading technology is employed in a clinical trial, in order to bring new treatments for the deadly disease of Osteosarcoma to market," said Dr. Robert Petit, CMO/CSO of OS Therapies. "The OST-HER2 treatment has been highly successful in multiple trials in canine osteosarcoma, demonstrating 3X improvement in Overall Survival and Disease Progression – we hope to see that it works as well--or even better--in kids."
The completed private placement will also support the advancement of preclinical and toxicology studies for OS Therapies' second major platform technology OST-TDC: a next generation Drug Conjugate Technology targeting large solid tumors and potentially other diseases. "With the combination of the OST-HER2 late-stage development, and the significant potential of the OST-TDC technology, we believe OS Therapies has found a balanced approach to significant growth potential," said Nathan Cali, Managing Director of Noble Capital Markets.
OS Therapies Executive Chair Colin Goddard, PhD. pointed out: "This funding gives OS Therapies the opportunity to execute on their clinical plan, while opening up funding options for the future corporate structure of what could likely be a fully-integrated biopharmaceutical company."
About Osteosarcoma
Osteosarcoma is a solid tumor of the bone that predominantly occurs in adolescent and young adults (AYA). Standard treatment includes radiation and chemotherapy, with a high recurrence rate and significantly poorer prognosis upon metastasis.
About OS Therapies
OS Therapies Inc. (OST) is a clinical stage therapeutic company focused on the identification, development and commercialization of treatments for Osteosarcoma (OS) and other deadly cancers in kids and adults.
About OST-HER2
The OST-HER2 platform technology has already been administered into approximately 450 healthy volunteers in successful and completed clinical trials. This quarter, OS Therapies will initiate a potentially pivotal, Phase IIB clinical trial intended to prevent metastasis and improve Overall Survival (OS) in Osteosarcoma. OST-HER2 has already received Fast Track and Orphan Designations by the FDA and EMA, and the company plans to file for Rare Disease Designation (RDD) and Break Through Designation (BTD) this year. OST-HER2 has received a USDA provisional approval for treatment of Osteosarcoma in canines. In a completed phase III study in canines (n=180), there was a clear separation of treated and untreated patients (p=.0007) in Overall Survival (OS) and Disease Progression.
About OST-TDC
The OST-TDC platform is compatible with multiple ligands such as antibodies, small molecules, peptides and peptidomimetics, and utilizes proprietary pH-sensitive SiLinkersⓇ and payload cassette adaptors. The modular toolbox enables the efficient synthesis and optimization of the respective drug conjugates. The late-stage preclinical lead program targets Folate Receptor alpha (FRɑ) for the treatment of ovarian and other folate receptor overexpressing cancers.
For more information, please see the Company's website at www.ostherapies.com
Media Contact:
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SOURCE OS Therapies
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