Instil Bio rebuilds with PD-L1xVEGF bispecific deal from ImmuneOnco

Instil Bio has announced a significant collaboration with ImmuneOnco Biopharmaceuticals aimed at developing and commercializing two notable antibodies outside of China. The deal focuses on ImmuneOnco's PD-L1xVEGF bispecific antibody, IMM2510, and its anti-CTLA-4 antibody, IMM27M. The agreement includes an initial payment and potential near-term payments totaling up to $50 million, with additional milestone payments potentially exceeding $2 billion. Moreover, Instil Bio will pay single to low double-digit percentage royalties on sales.

IMM2510 is a unique therapy that combines an anti-PD-L1 antibody with a vascular endothelial growth factor (VEGF) receptor trap, which captures VEGF molecules. This antibody differentiates itself from similar treatments by binding not only to VEGF-A but also to multiple other VEGF receptor ligands. Its smaller molecular weight allows it to penetrate tumors more effectively. The drug has successfully completed a dose-escalation study for advanced solid tumors, showing promising results, including responses in patients with squamous non-small-cell lung cancer who had previously not responded to PD-1 inhibitors.

IMM27M, on the other hand, is engineered to deplete regulatory T-cells within tumors, potentially enhancing efficacy and reducing the toxicity often seen with earlier anti-CTLA-4 antibodies. This antibody has also completed a dose-escalation trial for advanced solid tumors and is now being tested in combination studies with IMM2510.

Instil Bio, which went public in 2021 and raised over $350 million, initially focused on developing tumor infiltrating lymphocyte (TIL) therapies. However, by the end of the following year, the company decided to halt work on its leading asset, ITIL-168, to concentrate on its CoStAR-TIL programs, particularly ITIL-306. Recently, Instil Bio ended clinical trials for ITIL-306 in March and announced plans to in-license or acquire new drugs to bolster its portfolio.

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