Big Companies like Boehringer Ingelheim Venture Fund (BIVF) and Panacea Venture, with participation from Illumina Ventures, Korea Investment Partners (KIP), and JLo Ventures bets on Designer GMO bacteria of Actym Therapeutics.
Actym completed a $34 million series A financing led by these ventures for their microbial-based STACT platform. Funding will be used by company to proceed and advance development of immunotherapies from its microbial-based STACT platform into the clinic for the treatment of various cancers.
Christopher Thanos, Ph.D., Chief Executive Office, Actym Therapeutics delightfully commented
“Patients burdened with metastatic disease desperately need new and effective treatment options. Actym’s platform technology allows for the delivery of multiplexed immunological payloads to the tumor microenvironment (TME) after IV dosing, in a single therapeutic composition.
Last year, April 3, 2019 in American Association for Cancer Research Annual Meeting, held in Atlanta Georgia, Company had presented preclinical data on “STACT: A Novel Tumor-Targeting, Systemically-Administered Delivery Platform Capable of Targeting Intractable Pathways and Precise Immuno-Modulation of the Tumor Microenvironment” and “STACT-TREX1: A Systemically-Administered STING Pathway Agonist Targets Tumor-Resident Myeloid Cells and Induces Adaptive Anti-Tumor Immunity in Multiple Preclinical Models.”
Some Other Comments to be noted:
Investors are positively looking forward to Actym Therapeutics and keeping high hope on this new exciting therapeutic platform. “On behalf of BIVF, we are excited to co-lead the investment in Actym. Actym’s unique approach has the potential to overcome the immunosuppressive TME and treat a broad range of malignancies via a systemic route of administration.” said Dr. Das, of BIVF.
“Think about a cocktail therapy in a single drug,” Thanos, founder and CEO of the new company, told Endpoints News. “These engineered microbes can easily do that because you can load up a desired combination of payloads.”