New British Biotech Receives £3M to Develop Small Molecules that Fight Cancer
NeoPhore, has received investment from Sixth Element Capital to develop small molecules that stimulate the immune system against cancer.
Sixth Element Capital has invested £3M (€3.3M) in NeoPhore, a new spin-out from PhoreMost – a drug discovery company based in Cambridge, UK. NeoPhore has been set up to explore small molecules that could be used to stimulate the immune system to fight cancer. It will be asset-centric, meaning it will focus on drug development and reducing financial risk. The spin-out will use the investment to build on discoveries made by PhoreMost and its collaborators.
NeoPhore hopes to exploit biological mechanisms to stimulate the creation of cancer antigens that will boost cancer immunity in patients with unresponsive “cold” tumors and improve patient response to other immunotherapies. The spin-out has remained loyal to small molecules despite a number of companies like Boehringer Ingelheim turning their backs on the field and focusing on other technology like monoclonal antibodies. It won’t be too lonely though, with Karus Therapeutics also working on small molecules.
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