Normunity secures $75M Series B to develop T cell engager and start first trial

Normunity, a biotech startup spearheaded by the innovative scientist Lieping Chen, has successfully completed a Series B funding round, garnering $75 million to advance its groundbreaking cancer treatment initiatives. The firm plans to channel these resources into progressing its lead candidate, NRM-823, towards clinical trials within this year. NRM-823, a T cell engager, is engineered to target a particular protein present in numerous solid tumors, although the specific target remains undisclosed.

The company emerged from stealth mode in 2022 after raising $65 million in a Series A funding round, with Chen and CEO Rachel Humphrey at the helm. Chen's pioneering research contributed significantly to the validation of PD-(L)1 as a target for cancer therapy. Meanwhile, Humphrey played a pivotal role in the development of the cancer drug Yervoy during her tenure at Bristol Myers Squibb.

In a discussion with Endpoints News, Humphrey emphasized that Normunity is not pursuing another checkpoint inhibitor. Rather, the company leverages a screening technology developed in Chen's laboratory at Yale, which can pinpoint proteins that hinder the immune system's ability to attack cancer cells. This innovation forms the foundation for Normunity's drug development endeavors, aimed at targeting such inhibitory proteins.

Normunity aspires to commence a Phase 1 clinical trial for NRM-823 in the latter half of the year. Additionally, part of the newly acquired funding will facilitate other unnamed preclinical programs in the company's pipeline.

The recent funding round was co-led by Samsara BioCapital and Enavate Sciences. David Parry, a venture partner at Samsara who is set to join Normunity’s board, highlighted the appeal of investing in the company due to the specificity of NRM-823's target. He noted that the target's "cleanliness" stems from its high and specific expression on tumors, making it an attractive candidate for development.

Parry commented, "The past couple of years have seen considerable exploration in the T cell engager space. Normunity has excelled in identifying suitable targets and pairing them with the appropriate T cell engagers." This meticulous approach has underpinned the company's progress and ability to attract significant investment.

The funding round also saw participation from new investors, namely Regeneron Ventures, Pfizer Ventures, and YK Bioventures. This diverse investor base underscores the broad interest and confidence in Normunity’s novel approach to cancer treatment.

With the backing of seasoned investors and a clear strategy to advance its lead candidate, Normunity is poised to make a significant impact in the field of oncology. By focusing on innovative therapies that enhance the immune system's ability to combat cancer, the company is charting a path toward potentially transformative treatments for patients with solid tumors. As it moves forward, Normunity's efforts will be closely watched by both the scientific community and investors eager to see how its pioneering technology and targeted therapies unfold in clinical settings.