Grey Wolf Therapeutics Closes Oversubscribed $50 Million Series B Financing Expansion, Led by ICG Life Sciences Team, to Accelerate and Expand First-of-its-Kind Antigen Modulation Technology
Summary
Proceeds to Support Broadening Scope of Ongoing Clinical Trial of GRWD5769; First Clinical Data to be Reported at ASCO 2024Company to Expand R&D Efforts to Develop Disease-Modifying Therapies for Autoimmune DisordersOXFORD, UK, May 23, 2024 /PRNewswire/ -- 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, today announced the closing of an oversubscribed $50 million Series B financing expansion, bringing the total amount of Series B funds raised to $99 million. "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. "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. "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.