URGENT UPDATE: Primmune Therapeutics has just announced a major boost in its fight against solid tumors, securing an additional $8.6 million in its Series B financing round. This funding elevates the total raised in this round to a remarkable $23.3 million, empowering the San Diego-based biotech firm to advance critical clinical trials for its innovative cancer treatment.
The new funds will primarily support the clinical testing of PRTX007, a pioneering oral drug aimed at activating the immune system to combat solid tumors. Notably, the company is set to launch a Phase 2 study in patients with Stage III melanoma that is amenable to surgical removal. This urgent trial will investigate the effectiveness of PRTX007 when administered alongside standard anti-PD-1 therapy before surgical intervention.
Conducted entirely in Australia, this pivotal study will be managed by Primmune Therapeutics Pty Ltd. in partnership with Novotech, a leading contract research organization. The results of this trial could significantly enhance treatment options for patients struggling with melanoma, a deadly skin cancer.
“This financing enables us to rapidly advance PRTX007 into a clearly defined proof-of-principle study with validated efficacy and safety endpoints,” said Charlie McDermott, Chief Executive and Director of Primmune Therapeutics. “Our goal is to establish PRTX007 as a class-leading immunotherapy option for patients with solid tumors.”
Founded in 2017 by industry veterans James Appleman, Paulo Rangel, and Stephen Webber, Primmune Therapeutics specializes in developing orally administered small molecule toll-like receptor 7 agonists to treat cancer and other diseases responsive to immunotherapy. The company’s unique approach targets the immune system more effectively, aiming to enhance beneficial immune responses while minimizing excessive inflammation—a common issue in similar therapies.
PRTX007 has already shown promise, having been tested in over 100 healthy volunteers across two Phase 1 clinical studies. Results indicate that it elicits the desired immune response without causing unwanted inflammation, with no serious side effects reported.
The implications of this funding and subsequent trials are profound, offering hope to many patients battling solid tumors who are in desperate need of effective treatment options. As Primmune Therapeutics embarks on this critical phase of research, the global medical community will be watching closely.
What’s Next: Stay tuned for updates on the progress of the Phase 2 study and potential breakthroughs in solid tumor immunotherapy that could redefine treatment standards in oncology. With this funding, Primmune Therapeutics is poised to make significant strides in cancer care, and the world will be eager to see the outcomes.
