Funding

Grey Wolf Therapeutics funding news – Clinical-stage Biotechnology Company Grey Wolf Therapeutics Secures $50 Million in Series B Round Funding

May 24, 2024 | By Startup Rise EU

Grey Wolf Therapeutics (“Grey Wolf” or “the company”), a clinical-stage biotechnology company leveraging first-of-its-kind antigen modulation therapies to address the source of immune dysfunction in oncology and autoimmunity, secures $50 million in series B round funding , bringing the total amount of Series B funds raised to $99 million.

Grey Wolf Therapeutics (“Grey Wolf” or “the company”), a clinical-stage biotechnology company leveraging first-of-its-kind antigen modulation therapies to address the source of immune dysfunction in oncology and autoimmunity, secures $50 million in series B round funding , bringing the total amount of Series B funds raised to $99 million.

SUMMARY

  • Brings Total Series B Funds Raised to Nearly $100 Million.
  • Proceeds to Support Broadening Scope of Ongoing Clinical Trial of GRWD5769; First Clinical Data to be Reported at ASCO 2024.

The Series B expansion round was led by ICG’s Life Sciences team and included further investment from existing investors Pfizer Ventures, Andera Partners, Canaan, Earlybird Venture Capital, Oxford Science Enterprises and British Patient Capital.

Read also - Colendi funding news – Fintech Startup Colendi Secures $65Million Series B Round Funding

Proceeds from the round will be leveraged to broaden the scope of the company’s ongoing Phase 1/2 clinical trial of its lead immuno-oncology candidate, GRWD5769, in a range of solid tumour types. The funding also enables the company to expand research and development (R&D) for its versatile antigen modulation approach into treatments for autoimmune disease indications.

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Peter Joyce, Ph.D., chief executive officer of Grey Wolf Therapeutics said, “The funds raised as part of this Series B expansion round allows us to enrich our ongoing clinical trial of GRWD5769 to include patients with a wider variety of tumour types and evaluate new combination treatment cohorts. In addition, the new capital enables us to more fully explore the breadth of potential therapeutic applications for our antigen modulation technology, There is a wealth of supportive recent clinical research and compelling human genetic associations pointing to the potential for antigen modulation driven by ERAP inhibition to open the door for disease-modifying therapies in the field of autoimmune disease. As such, we are expanding our R&D efforts and evaluating these broader therapeutic applications for our unique technology.”

Initial data on the ongoing adaptive Phase 1/2 trial of the lead asset GRWD5769, a first-in-class ERAP1 inhibitor will be presented at the upcoming 2024 American Society of Clinical Oncology (ASCO) annual meeting. A second ERAP1 inhibitor focussed on autoimmune disease is being advanced through IND-enabling studies with the goal of entering the clinic in 2025.

Tracy Weightman, Associate Director, Life Sciences at ICG, added, “Grey Wolf is an exciting growth stage UK biotechnology company with a novel and differentiated approach that has the potential to transform the lives of millions of patients globally. This investment demonstrates our commitment to building leading biotechnology companies and enabling them to compete on a global stage. We are pleased to support Grey Wolf through the next stage of its growth journey, enabling the company to advance its clinical development strategy and expand into new therapeutic areas.”

About Grey Wolf Therapeutics

Grey Wolf Therapeutics is a clinical-stage, UK- and Australian-based drug discovery and development biotechnology company spearheading a new therapeutic approach based on a first-of-its-kind antigen modulation platform.

The company’s lead clinical development candidate, GRWD5769, is a potent and selective oral ERAP1 inhibitor that has shown the potential to elicit a powerful and differentiated immune response against tumours. A second ERAP1 inhibitor, GRWD0715, is advancing through preclinical development as a potential treatment for autoimmune disease.

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