BREAKING: Primmune Therapeutics has just announced a crucial funding boost of $8.6 million in its Series B financing round, pushing the total to $23.3 million. This funding will accelerate the clinical testing of their groundbreaking oral drug, PRTX007, aimed at transforming the treatment of solid tumors, particularly in patients with Stage III melanoma.
This urgent update comes as the San Diego-based biotech firm gears up for a pivotal Phase 2 study, which will evaluate the effectiveness of PRTX007 alongside standard anti-PD-1 therapy before surgical removal of tumors. The study, set to take place entirely in Australia, will be conducted by Primmune Therapeutics Pty Ltd. in collaboration with Novotech, a leading contract research organization.
CEO Charlie McDermott emphasized the significance of this funding, stating,
“This financing enables us to rapidly advance PRTX007 into a clearly defined proof-of-principle study with validated efficacy and safety endpoints, with the goal of establishing PRTX007 as a class-leading immunotherapy option for patients with solid tumors.”
Founded in 2017 by innovators James Appleman, Paulo Rangel, and Stephen Webber, Primmune Therapeutics specializes in developing novel small molecule TLR7 agonists designed to enhance immune responses while minimizing inflammation—a common drawback of existing therapies.
The promising PRTX007 has already undergone testing in over 100 healthy volunteers during two Phase 1 clinical trials. Results indicated that it successfully triggered the desired immune response without causing significant side effects, marking it as a potentially safe option for cancer patients.
This funding news is not just a win for Primmune Therapeutics but could represent a breakthrough for patients suffering from solid tumors. The enhanced immune response may offer hope for improved treatment outcomes and a better quality of life.
As Primmune prepares to embark on this critical clinical study, all eyes will be on the results, which could reshape the future of immunotherapy for solid tumors. Stay tuned for further updates on this developing story as it unfolds.
