Actym Therapeutics, a groundbreaking company pioneering a novel drug modality for treating solid tumors, has announced a successful extension of its Series A financing round, securing an additional $25.5 million.
This additional funding, co-led by existing investors Boehringer Ingelheim Venture Fund and Illumina Ventures, along with new investor GKCC LLC, brings the total raised in the Series A round to an impressive $59.5 million. Actym’s existing shareholders, Panacea Ventures and JLo Ventures, also participated in this extension.
At the core of Actym’s innovative approach is their proprietary platform, S. Typhimurium-Attenuated Cancer Therapy (STACT), which represents a revolutionary method for reactivating the Tumor Microenvironment (TME) to treat solid tumors comprehensively. Leveraging a genetically modified bacterial vehicle, STACT-based therapeutics transport specialized payloads to initiate a selective immune response within the TME.
Actym’s lead candidate, ACTM-838, is designed to introduce optimized IL-15 and STING, two highly potent and synergistic payloads, directly into the TME. Preclinical studies have demonstrated that ACTM-838 effectively enriches within the TME, triggering a robust and enduring innate and adaptive anti-tumor immune response.
The additional funding from this Series A extension will facilitate Actym’s entry into a Phase 1 clinical trial. This trial is strategically designed to establish proof of mechanism for ACTM-838 by demonstrating its ability to selectively enrich in tumors, deliver payload combinations, and effectively re-activate the immuno-compromised TME.
The trial will also assess dose selection, safety, efficacy, and pharmacokinetics of ACTM-838.
Christopher Thanos, Ph.D., CEO, and Co-founder of Actym Therapeutics expressed, “We have advanced the STACT platform and defined a value-building clinical pathway that will allow us to translate our deep understanding of the tumor microenvironment into a novel approach to an effective and safe cancer treatment. We value the continued commitment from our current investors and welcome GKCC LLC into the syndicate. Through their combined support, we aim to bring innovative therapies to patients across multiple solid tumor indications.”
Ron Mazumder, Ph.D., Partner at Illumina Ventures, emphasized their confidence in Actym’s potential, stating, “Actym’s pioneering approach to cancer treatment aligns perfectly with our vision. We are convinced that the Actym team is well-positioned to deliver on the promise of its platform and its new drug modality.”
Julie Cherrington, Ph.D., Executive Chair of the Actym Board of Directors, lauded Actym Therapeutics for pushing the boundaries of cancer immunotherapy. She expressed excitement about the transformative potential of ACTM-838 and looked forward to the company’s next phase of clinical and corporate development.
This significant funding extension positions Actym Therapeutics as a leading force in the field of cancer immunotherapy, emphasizing the company’s dedication to innovative research and development that could revolutionize the treatment landscape for solid tumors.