JERUSALEM & NORWALK, Conn.--(BUSINESS WIRE)--Nectin Therapeutics, a biotechnology company developing novel targeted immunotherapies to address tumor immune resistance, and the Myeloma Investment Fund (MIF), the Multiple Myeloma Research Foundation's (MMRF) venture philanthropy subsidiary, today announced that the MIF has invested in Nectin Therapeutics to explore the potential of NTX1088, Nectin’s first-in-class lead immunotherapy drug candidate, for the treatment of multiple myeloma.
"We look forward to our partnership with Nectin Therapeutics to evaluate NTX1088 as a potential therapy for multiple myeloma,” said Michael Andreini, President and Chief Executive Officer of the Multiple Myeloma Research Foundation. “The MIF is committed to identifying and accelerating the most innovative treatment approaches for myeloma patients. We are pleased to support this first-in-class antibody targeting PVR based on the potential to overcome immune evasion and enhance the immune system’s response against myeloma.”
“We are delighted to join forces with the Myeloma Investment Fund, allowing us to collaborate and explore the potential of our lead candidate, NTX1088, in the treatment of multiple myeloma," said Fabian Tenenbaum, Chief Executive Officer of Nectin. "NTX1088 is currently being studied in patients with advanced and metastatic solid tumors, and we look forward to working closely with the MIF to uncover the role that PVR blockade may serve in addressing the unmet needs of myeloma patients.”
Together with the MIF’s investment, Nectin has raised over $33M supported by investments from aMoon, Peregrine Ventures, Israel Biotech Fund, Cancer Focus Fund and Integra Holdings.
About Nectin Therapeutics
Nectin Therapeutics is a biotechnology company aiming to transform the lives of cancer patients by leveraging its unique insights into the nectin pathway to develop the next generation of immune oncology (IO) therapies. The company’s differentiated therapies have the potential to achieve new standards for efficacy and patient response across a number of 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. It has a world-class scientific and management team with deep experience in oncology drug development and a successful track record in building biotechnology companies and developing innovative therapies. Nectin Therapeutics is a venture-backed, privately held company, funded by aMoon Fund, Peregrine Ventures, Israel Biotech Fund, Cancer Focus Fund, Integra Holdings and the Myeloma Investment Fund.
NTX1088 is a first-in-class monoclonal antibody directed against a key immune checkpoint, PVR, also known as CD155. NTX1088 has multiple mechanisms of action. NTX1088 blocks the interaction between PVR and DNAM1, also known as CD226, a molecule involved in the activation of anti-cancer T and NK cells. By preventing internalization and degradation of DNAM1, NTX1088 leads to restoration of DNAM1 expression on the surface of immune cells and results in robust antitumor activity. NTX1088 also blocks PVR’s interactions with TIGIT and CD96, preventing their immune inhibitory signaling. NTX1088 demonstrated superior antitumor activity compared to approved and investigational immune checkpoint inhibitors in preclinical models and had a favorable safety profile in non-human primates.
About the Myeloma Investment Fund (MIF)
The Myeloma Investment Fund (MIF) is a venture philanthropy fund that invests in promising companies, clinical assets, and technologies in oncology to drive the development of new therapies for multiple myeloma. The MIF collaborates closely with portfolio companies to help them advance multiple myeloma research. This evergreen fund is supported entirely by philanthropy; all profits will be reinvested back into research for more effective treatments until there is a cure for every patient. For more information, visit www.myelomainvestmentfund.org
About the Multiple Myeloma Research Foundation (MMRF)
The Multiple Myeloma Research Foundation (MMRF) is the largest nonprofit in the world solely focused on accelerating a cure for each and every multiple myeloma patient. We drive the development and delivery of next-generation therapies, leverage data to identify optimal and more personalized treatment approaches, and empower myeloma patients and the broader community with information and resources to extend their lives. Central to our mission is our commitment to advancing health equity so that all myeloma patients can benefit from the scientific and clinical advances we pursue. Since our inception, the MMRF has committed over $500 million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market, which have tripled the life expectancy of myeloma patients. To learn more, visit www.themmrf.org.