OncoVerity Secures Series A Funding for Cusatuzumab Advancement in AML

OncoVerity, an innovator in utilizing advanced bioinformatics for drug development, has revealed the completion of an extension to its Series A funding round, with support from returning investors, argenx and RefinedScience. This financial boost will enable OncoVerity to further its commitment to fulfilling the unmet medical requirements of cancer patients, utilizing a distinctive computational framework to guide a development strategy aimed at achieving comprehensive and profound responses.

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Funds raised from the Series A extension will be allocated to the Phase 2 OV-AML-1231 trial of cusatuzumab, an innovative first-in-class high-affinity monoclonal anti-CD70 antibody. This trial will assess its effectiveness in combination with venetoclax and azacitidine for newly diagnosed acute myeloid leukemia (AML). Specifically, the trial targets patients with limited therapeutic options who are likely to respond positively to a cusatuzumab-based treatment, guided by OncoVerity’s computational models. Currently, patient enrollment is ongoing, and the initial eight patients have already received the treatment.

“This funding round represents a pivotal advancement in expediting the development of cusatuzumab,” stated Max Colao, Chief Executive Officer of OncoVerity. “Cusatuzumab shows promise for treating a diverse array of tumors, particularly in AML where it demonstrates a solid biological foundation. We are especially enthusiastic about the Phase 2 trial and anticipate sharing insights from the interim analysis in the latter part of 2025. These findings will bring us a step closer to potentially providing a groundbreaking treatment for patients with AML.”

“This randomized Phase 2 clinical trial is founded on data derived from machine learning techniques and will utilize state-of-the-art single cell omics technologies for comprehensive response analysis. This innovative approach aims to enhance trial design and implementation, tackle patient diversity, address critical individual patient requirements, and impart vital knowledge regarding significant clinical and biological factors. We collectively aspire to improve care for individuals with AML and other cancers facing urgent unmet medical needs.”

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According to the data provided by the Synapse Database, As of November 27, 2024, there are 87 investigational drugs for the CD70 target, including 70 indications, 74 R&D institutions involved, with related clinical trials reaching 71, and as many as 16767 patents.

Cusatuzumab is a monoclonal antibody drug that targets CD70 and is being developed for the treatment of neoplasms, hemic, and lymphatic diseases. The drug is specifically indicated for adult acute myeloblastic leukemia and acute myeloid leukemia. Cusatuzumab is being developed by arGEN-X BV and has reached Phase 2 of clinical development both globally and in China.