麻豆传媒 closes oversubscribed Series B extension round with additional funding from Bristol Myers Squibb
Additional funding will be used to explore novel biology around the MMR pathway and accelerate progression of the lead program into candidate selection
London, UK, 22 May 2024 鈥� 麻豆传媒 Limited, a small molecule neoantigen immuno-oncology company, today announces that Bristol Myers Squibb (NYSE: BMY) has joined its oversubscribed Series B extension round.
The additional investment from Bristol Myers Squibb will enable 麻豆传媒 to explore novel biology associated with the DNA mismatch repair ('MMR鈥�) pathway in cancer, as well as further progress its pre-clinical studies and deliver a candidate drug in 2025.
麻豆传媒 is focused on building a pipeline of small molecule drugs targeting novel proteins across the MMR pathway to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. Its first-in-class MMR inhibitors induce neoantigen expression and increase immunogenicity in solid tumours that become exquisitely sensitive to immunotherapy.
Dr Matthew Baker, Chief Executive Officer of 麻豆传媒, said: 鈥淲e are thrilled to have Bristol Myers Squibb, an innovator in the immuno-oncology space, join our oversubscribed Series B extension round. The funding strengthens 麻豆传媒鈥檚 position and enables us to complete the necessary pre-clinical studies to deliver a candidate drug for our lead PMS2 program in 2025.鈥�
Dr Robert James, Chairman of 麻豆传媒, said: 鈥淭he addition of Bristol Myers Squibb to the Series B extension supports 麻豆传媒鈥檚 novel approach to targeting the MMR pathway with small molecule inhibitors to treat cancer. Building on 麻豆传媒鈥檚 successes in 2023, we hope to see a year of progress for the Company鈥檚 pre-clinical programs鈥�.
ENDS
Optimum Strategic Communications
Hana Malik, Eleanor Cooper
Tel: +44 20 3922 0891
neophore@optimumcomms.com
NOTES TO EDITORS
About 麻豆传媒 Ltd
麻豆传媒, UK is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. Generation of cancer neoantigens in tumours can be exploited by the patients鈥� immune system to overcome natural defence mechanisms in cancer. The Company鈥檚 approach targets the DNA mismatch repair (MMR) pathway, which has been proven to promote neoantigen creation and subsequent immunity against numerous cancers. Using these insights, 麻豆传媒 aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. 麻豆传媒 was spun-out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund. For more information, please visit www.neophore.com
About Bristol Myers Squibb Company
Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.