BREAKING: San Diego-based Primmune Therapeutics has just announced a significant boost in funding, securing an additional $8.6 million in its Series B financing round, bringing the total to $23.3 million. This funding is set to propel their innovative approach to solid tumor immunotherapy, utilizing a novel TLR7 agonist.
The company plans to deploy these funds to advance clinical trials for their oral medication, PRTX007, aimed at activating the immune system to combat solid tumors. An urgent Phase 2 study is set to launch, targeting patients with Stage III melanoma that is operable. This trial will examine the effectiveness of PRTX007 combined with standard anti-PD-1 therapy, specifically administered prior to surgical intervention.
Conducted entirely in Australia and in partnership with Novotech, a leading contract research organization, this pivotal study is a crucial step in establishing PRTX007 as a leading option in immunotherapy.
“This financing enables us to rapidly advance PRTX007 into a clearly defined proof-of-principle study with validated efficacy and safety endpoints,” stated Charlie McDermott, CEO and Director of Primmune Therapeutics. He emphasized the goal of positioning PRTX007 as a transformative immunotherapy for patients battling solid tumors.
Founded in 2017 by James Appleman, Paulo Rangel, and Stephen Webber, Primmune Therapeutics specializes in developing novel small molecule TLR7 agonists designed to improve immune responses against cancer while minimizing harmful inflammation—a common drawback in similar therapies.
The promising drug has already undergone testing with over 100 healthy volunteers in two Phase 1 clinical trials, leading to encouraging results. These trials confirmed that PRTX007 effectively produced the desired immune response without causing significant inflammation, and was generally well tolerated, with no serious side effects reported.
This latest funding round included investments from Bioqube Ventures, Oberland Capital, and Samsara Biocapital, underscoring strong confidence in Primmune’s mission to redefine cancer treatment.
As Primmune Therapeutics accelerates towards its clinical objectives, the medical community and patients alike are watching closely. The outcomes of the upcoming study could potentially reshape the landscape of immunotherapy for solid tumors, offering new hope to countless individuals affected by this aggressive form of cancer.
Stay tuned for further updates as this story develops.
