Grey Wolf Therapeutics Secures $50M Series B Round to Advance Antigen Modulation Tech

Grey Wolf Therapeutics, a clinical-stage biotechnology firm specializing in antigen modulation therapies, has announced the successful closure of an expanded Series B financing round, raising an additional $50 million. This expansion brings the total Series B funding to $99 million. The financing round was spearheaded by ICG's Life Sciences team, with contributions from existing investors including Pfizer Ventures, Andera Partners, Canaan, Earlybird Venture Capital, Oxford Science Enterprises, and British Patient Capital.

The substantial funding will support the expansion of Grey Wolf's ongoing Phase 1/2 clinical trial for its leading immuno-oncology candidate, GRWD5769. This trial is focused on a variety of solid tumor types. Additionally, the funds will enhance research and development efforts aimed at treating autoimmune diseases through the company's antigen modulation technology.

Peter Joyce, Ph.D., CEO of Grey Wolf Therapeutics, emphasized the significance of the new funds. "This Series B expansion enables us to include a broader range of patients in our clinical trial of GRWD5769 and explore new combination treatment cohorts. Moreover, it allows us to investigate the wider therapeutic applications of our antigen modulation technology," he stated. Joyce also noted recent clinical research and genetic data supporting the potential of ERAP inhibition in developing disease-modifying therapies for autoimmune conditions.

The company is set to present preliminary data from the GRWD5769 trial at the 2024 American Society of Clinical Oncology (ASCO) annual meeting. Another ERAP1 inhibitor targeting autoimmune diseases is in the pipeline, with clinical trials expected to commence in 2025.

Tracy Weightman, Associate Director of Life Sciences at ICG, expressed enthusiasm about Grey Wolf's innovative approach and its potential global impact. She remarked, "This investment reflects our commitment to fostering leading biotechnology companies and helping them compete internationally. We are excited to support Grey Wolf in its growth and expansion into new therapeutic areas." Weightman has also joined Grey Wolf's board of directors as part of the financing agreement.

Grey Wolf's unique therapeutic strategy involves modulating the presentation of target antigens to the immune system by inhibiting endoplasmic reticulum aminopeptidases (ERAP1 and ERAP2). This modulation can either stimulate or suppress immune cell activity to achieve specific therapeutic outcomes. In oncology, inhibiting ERAP proteins generates novel antigens that trigger targeted immune responses against tumors. Conversely, for autoimmune diseases, this mechanism helps prevent the production of harmful auto-antigens, thereby mitigating pathogenic immune responses.

The company’s leading candidate, GRWD5769, is an oral ERAP1 inhibitor designed to provoke a robust immune response against tumors. Meanwhile, a second ERAP1 inhibitor, GRWD0715, is advancing through preclinical stages for potential autoimmune disease treatment. Grey Wolf is also exploring ERAP2 drug discovery and developing therapies targeting ERAP1 inhibitor-generated cancer antigens using MHC Class I-directed treatments, such as soluble T cell receptors and TCR mimic bispecifics.

Grey Wolf Therapeutics is headquartered in the UK and Australia, and it is at the forefront of developing novel therapies based on its antigen modulation platform.

ICG is a global alternative asset manager with a 35-year track record, managing $86.3 billion in assets. The firm provides flexible capital solutions to support business growth across various industries, committed to achieving net-zero operations by 2040.