Guangzhou-Israel Biotechnology Fund (GIBF) announced that it has invested $10 million in Israeli biotechnology company Nectin Therapeutics. Nectin develops novel targeted immunotherapies that address resistance to approved immune oncology treatments. The funds will be used to continue the development of Nectin's portfolio of novel immuno-oncology products, including the advancement of Nectin's ongoing NTX1088 global Phase 1 clinical trial targeting PVR and the preclinical development of its anti-drug conjugate (ADC) portfolio.
Nectin is a clinical stage biotechnology company assisting liver cancer patients by leveraging insights into the nectin pathways to develop immune oncology (IO) therapies. The company's therapies have the potential to set new standards for efficacy and patient response rates across various difficult-to-treat cancers.
Nectin's technology addresses major escape mechanisms of current IO therapies through a diverse pipeline of novel monoclonal antibodies and antibody-drug-conjugates. Nectin is a venture-backed, privately held company, funded by aMoon Fund, Peregrine Ventures, IBF, Integra Holdings, Myeloma Investment Fund (MIF), and Cancer Focus Fund.
Nectin Therapeutics CEO Fabian Tenenbaum said, "We are grateful for the support from GIBF which reflects the rapid advancement of our anti-PVR clinical program as well as the progress in our development of several ADC candidates. With this new investment we are looking forward to completing both the dose-escalation and dose-expansion trials for NTX1088 and continue our IND-enabling activities of our ADC assets. We value GIBF's commitment to our mission of developing life-saving therapies and look forward to advancing innovative medicines to improve the lives of cancer patients."
Published by Globes, Israel business news - en.globes.co.il - on May 6, 2024.
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