TORL plans to use the funds to finance multiple ongoing Phase I trials. Image Credit: Olivier Le Moal / Shutterstock.
TORL BioTherapeutics has raised $158m in Series B-2 financing to advance the clinical development of its lead antibody-drug conjugate (ADC), TORL-1-23, for the treatment of solid tumours.
The financiers included multiple venture capital firms Deep Track Capital, Goldman Sachs Alternatives, UC Investments, and Vertex Ventures HC, among others. Bristol Myers Squibb was also one of the investors. The current funding round, in addition to previous Series B funding, brings to total funds raised so far to exceed $350m.
The Series B-2 funds are planned to finance the ongoing Phase I (NCT05103683) and a pivotal Phase II trial of TORL-1-23. The Phase II study is expected to aid in regulatory review and potential approval for TORL-1-23 as a treatment of claudin (CLDN) 6-positive, platinum-resistant ovarian cancer. The trial is slated to start in H2 this year.
The US-based company also plans to use the proceeds to fund the ongoing Phase I trials for multiple ADC therapies in the company’s pipeline. TORL-2-307 is an ADC composed of an unnamed tumour-associated antigen (TAA) linked to an as-of-yet undisclosed cytotoxic agent. It is being evaluated in a Phase I trial (NCT05159440) in patients with CLDN 18.2 positive advanced solid tumours with adequate organ function.
Innate Pharma plans IND of ADC candidate after positive preclinical data
Preview
Source: Pharmaceutical Technology
ADCs have been identified as a key innovation area by GlobalData, with multiple companies investing in these therapies. In December 2023, Johnson & Johnson (J&J) signed a licensing agreement potentially worth $1.7bn with South Korean LegoChem Biosciences to develop and commercialise LCB84.
In November, Prelude Therapeutics and AbCellera partnered to jointly discover, develop, and commercialise ADCs for cancer treatment. In October, Merck & Co (MSD) partnered with Daiichi Sankyo to develop and commercialise three of the latter’s DXd ADC candidates, potentially spending up to $22bn on the partnership. In March, Pfizer paid approximately $43bn to acquire Seagen, which specialised in ADCs.
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.