NeoPhore has announced a further extension of £9.6 million (approximately $12.2 million) to its Series B financing round, bringing the total raised to £31.1 million (approximately $39.5 million).
The company is building a pipeline of small molecule drugs targeting novel proteins across the DNA mismatch repair (MMR) pathway to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. NeoPhore’s first-in-class MMR inhibitors induce neoantigen expression and increase immunogenicity in solid tumours that become exquisitely sensitive to immunotherapy.
At AACR-NCI-EORTC in Boston in October 2023, the first disclosure of lead compound NP1867 was presented. This demonstrated that NP1867 functionally inhibits MMR in cells and elicits COSMIC mutational signatures consistent with MMR-deficient patient samples.
The additional Series B funding will be used to progress NeoPhore’s lead oral programme, through early pre-clinical development.
Dr Matthew Baker, Chief Executive Officer of NeoPhore, said: “NeoPhore has made excellent progress throughout 2023. With the support of our committed and new investors, along with our research collaborations with academic institutions that are in place, we remain on track to deliver a candidate drug for our lead PMS2 programme by early 2025.”