Werewolf Therapeutics Closes $ 72 Million Series B Funding to Advance New Class of Cancer Biotherapeutics at Clinic
Funding accelerates Werewolf’s pipeline of systemically activated and conditionally activated INDUKINE ™ molecules through clinical development and supports efforts to build a leading team for drug discovery and development in immuno-oncology
CAMBRIDGE, Mass., January 7, 2021 / PRNewswire / – Werewolf Therapeutics, Inc., an oncology biotherapy company developing a pipeline of transformative next-generation cancer treatments, today announced the completion of its $ 72 million Series B Funding. Proceeds from the Series B Funding will advance the main product candidates of Werewolf INDUKINE ™, WTX-124 (interleukin-2 or IL-2) and WTX-330 (interleukin-12 or IL-12) to ‘to phase 1 clinical proof – concept studies and to advance additional programs to preparation for the application of a new investigational drug. INDUKINE ™ molecules are a new class of conditionally activated, systemically-released, pro-inflammatory immune modulators.
The funding was led by RA Capital Management and joined by new investors Deerfield Management, HBM Healthcare Investments, Soleus Capital, Adage Capital, Sphera Healthcare and CaaS Capital. Werewolf’s Series A investors, including MPM Capital, Longwood Fund, Taiho Ventures, Arkin Bio Ventures, UPMC Enterprises, and DC Investment Partners, also participated in the funding. As part of the closing of the financing, Derek DiRocco, Ph.D. of RA Capital Management and Elise wang from Deerfield Management has joined the Werewolf Board of Directors.
“This commitment from a world-class union of life sciences investors propels Werewolf’s pipeline of potentially transformative immunomodulatory biotherapeutics into clinical development while leveraging our powerful PREDATOR ™ protein engineering platform to identify and optimize new product candidates, ”said Daniel J. Hicklin, Ph.D., Founder and CEO of Werewolf Therapeutics. “We intend to use the proceeds of this funding to accelerate our research and preclinical discoveries, advance our two main clinical programs, and attract the talent needed to realize our vision of translating powerful pro-inflammatory mechanisms into therapies. against cancer that have a clinically significant impact. for the sick. “
In support of these initiatives, Werewolf will continue to expand its team of proven oncology drug developers, building on the recently announced appointments of Randi Isaacs, MD as Chief Medical Officer, and Ellen lubman as head of business.
“Although existing cytokine therapies are known to be effective treatments for cancer patients, resulting in cures in some cases, efficacy is not maximized due to poor tolerability. The Werewolf Next Generation Conditionally Activated Cytokine Platform aims to optimize the safety of these immunotherapies. so that their full effectiveness can be achieved and allow the testing of combined approaches ”, declared Derek DiRocco, Ph. D., partner at RA Capital Management. “RA Capital is delighted to support the accomplished team at Werewolf as they advance their portfolio of INDUKINE ™ immunotherapies in the clinic with the goal of improving outcomes for cancer patients. “
“Werewolf is well positioned to become an undisputed leader in one of the most exciting areas of cancer treatment research and development,” added Elise wang, Partner in the Structured Finance group of Deerfield Management Company. “While immunotherapy is among the most recent advances for people living with cancer, using the body’s immune system without causing unwanted side effects remains a challenge. We are delighted to support Werewolf as they advance their molecules in the clinic. “
Werewolf is developing treatments, given as monotherapy or in combination with other therapies such as checkpoint inhibitors, designed to improve the body’s immune response to cancer. These treatments rely on well-validated and emerging pro-inflammatory immunomodulators, including cytokines such as IL-2, IL-12, and IFNα, which have been difficult to develop as systemic therapies due to toxicities associated with exposure to normal non-tumor tissue. The company uses its proprietary PREDATOR ™ protein engineering platform to create conditionally activated pro-inflammatory INDUKINE ™ molecules that can be administered systemically in an inactive form. By entering the tumor microenvironment, INDUKINE ™ molecules are selectively activated to deliver the full biological potency of cytokines and to recruit a powerful anti-tumor immune response for maximum therapeutic potential, while minimizing off-target adverse effects in non-target tissues. tumor.
In preclinical studies, Werewolf’s primary product candidates demonstrated anti-tumor activity and favorable pharmacokinetic and safety profiles. The company was founded with an initial investment from MPM Capital, who also co-led with Longwood Fund the company $ 56 million Series A financing.
About Werewolf Therapeutics, Inc.
Werewolf Therapeutics, Inc. is an oncology biotherapy company developing a pipeline of next-generation transformative cancer treatments designed to focus the body’s immune response to selectively target cancer. Werewolf’s proprietary PREDATOR ™ protein engineering platform combines a variety of approaches to actively silence the drug during its systemic circulation, optimize its pharmacokinetic profile, and rapidly and efficiently transform into a fully active state when it reaches the tumor microenvironment for maximum therapeutic potential. Werewolf is creating a new era of systemically administered, tumor-selective drugs with the potential to provide more effective and less toxic treatments to people with cancer. To find out more visit www.werewolftx.com.
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SOURCE Werewolf Therapeutics