Elpis Biopharmaceuticals announced the closing of a $30 million Series A financing to propel solid tumor and hematological disease therapeutics through pre-clinical studies. This round brings the company to a total of $40 million raised including seed funding. The investment is part of a new strategic partnership with an unnamed global pharmaceutical company.
Elpis’ proprietary mRNADis™ antibody discovery and mSCAFold™ rational protein engineering platforms enable rapid and robust discovery of novel bi-specific antibodies, dual targeting and armored CAR-T, and mechanism re-directed immunomodulator proteins.
Elpis has a broad preclinical pipeline aimed at overcoming tumor resistance by synergizing multiple mechanisms ranging from tumor targeting to immune cell activation. The Company’s lead immuno-oncology product candidates EPIM-001, a bispecific and engineered dual functional IL-2Rβ agonist with minimal IL-2Rα activation to treat solid tumor indications, and EPC-001, a CD19/CD22 dual targeting CAR-T to treat B Cell malignancies are being advanced to enter clinical studies.
“We are excited to have this financial support as we continue to advance our pre-clinical assets,” said Yan Chen, President and Chief Executive Officer at Elpis Biopharmaceuticals. “We believe our biologics platforms enable us to discover and engineer better treatment options for cancer patients and look forward to continuing to grow and advance our pipeline into the clinic.”
Elpis Biopharmaceuticals also announced the appointment of a seasoned translational and clinical research investigator to the Scientific Advisory Board – Michael Atkins MD, Deputy Director of the Georgetown Lombardi Comprehensive Cancer Center in Washington, DC and Professor of Oncology and Medicine (Hematology/Oncology) at Georgetown University School of Medicine.