Epsilogen raises more funds in Series B for cancer therapy

Epsilogen has successfully secured £12.5 million ($16.4 million) in a Series B expansion funding round aimed at advancing the development of its innovative immunoglobulin E (IgE) antibodies for cancer therapy. The financing was provided exclusively by the company's existing investors: British Patient Capital, the Novartis Venture Fund, Epidarex Capital, the 3B Future Health Fund, and ALSA Ventures. This latest investment boosts the total amount raised in Series B financing to £43.25 million.

The majority of the newly raised funds will be allocated to support the clinical proof of concept for Epsilogen's lead candidate, MOv18 IgE. This therapeutic IgE antibody is currently being evaluated in a Phase Ib trial for its potential to treat platinum-resistant ovarian cancer (PROC).

MOv18 IgE is engineered to specifically target the folate receptor alpha (FRα), which is commonly found in various types of cancer. The ongoing Phase Ib trial comprises two main components: dose escalation and dose expansion. It will enroll patients with FRα-positive platinum-resistant ovarian cancer who have previously undergone up to four different treatments. This trial builds on a Phase I study that demonstrated MOv18 IgE’s safety, tolerability, and initial indications of clinical activity.

One of the distinguishing features of MOv18 IgE is its unique mechanism of action, setting it apart from other clinical agents. The antibody exhibits a high-affinity binding to the FcεR1 receptor, promoting immunosurveillance and leading to robust destruction of tumor cells by myeloid cells. This mechanism has the potential to modify the tumor immune microenvironment, rendering it more pro-inflammatory. Consequently, this results in higher levels of activated T cells and macrophages infiltrating the tumor, thereby enhancing its destruction.

Epsilogen, established in 2017, is a spin-out company from King’s College London in the UK. According to Tim Wilson, CEO of Epsilogen, the company is thrilled to receive ongoing support from its existing investors. He expressed gratitude towards them, stating, "The promise of IgE to treat cancer is based upon its unique mechanism of action, and MOv18 IgE is the first ever to be tested in man. Everything is ready for Phase Ib initiation which will occur shortly, and we look forward to reporting progress from the trial."

The company's pioneering approach to cancer treatment could potentially revolutionize the field, particularly for patients with hard-to-treat cancers like PROC. With the Phase Ib trial set to commence soon, there is significant anticipation surrounding the forthcoming findings and their potential impact on cancer therapy.

As Epsilogen moves forward, the support and confidence from its investors play a crucial role in enabling the company to explore and validate the therapeutic potential of IgE antibodies. The Phase Ib trial represents a vital step towards demonstrating the clinical viability of MOv18 IgE and its capacity to offer new hope to patients battling platinum-resistant ovarian cancer.