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With $73 million in financing from investment firms, Myeloid Therapeutics plans to accelerate its lead clinical candidate into Phase I/II development for treating solid tumors.
Myeloid Therapeutics, a US-based clinical-stage messenger RNA (mRNA)-immunotherapy company, announced on May 18, 2023 that investment firm Hatteras Investment Partners has completed a round of financing totaling $73 million, which included participation from new investors, ARCH Venture Partners and Moore Strategic Ventures, as well as existing investors, Newpath Partners, 8VC, and Alexandria Venture Investments.
According to a company press release, proceeds from the financing will support Myeloid’s continued clinical development of MT-101, its lead cell therapy program in Phase I/II studies for T-cell lymphoma. The funding will also accelerate the development of MT-302, a trophoblast cell-surface antigen 2 (TROP2)-FcA mRNA-lipid nanoparticle (LNP) product, into a Phase I/II study for TROP2-expressing tumors. The funding will also help advance additional in-vivo programming candidates into the clinic.
“Myeloid continues to make significant progress across all aspects of our business. We are pioneering the convergence of immunology and RNA science to build a clinical-stage portfolio of products, starting with the significant unmet needs of cancer patients,” said Daniel Getts, CEO of Myeloid, in the press release. “We are pleased that such high-quality investors have joined with us to accelerate this effort.”
“We are highly encouraged by the innovation, execution, and clinical development progress demonstrated by Myeloid. We are proud to support this [company] through its next phase of growth and are optimistic that these approaches will drive a meaningful clinical outcome for patients,” said Clay B. Thorp, general partner at Hatteras, in the release.
Source: Myeloid Therapeutics