
Nammi Therapeutics announces a $1M investment commitment by the Myeloma Investment Fund (MIF) in a $30M Series B financing round prior to the planned start of a first-in-human Phase 1 study of the lead program, QXL138AM, in patients with locally advanced unresectable and/or metastatic solid tumours and multiple myeloma.
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With this investment by MIF, Nammi Therapeutics anticipates the $30M Series B financing round will be fully subscribed upon its closing when the first patient has been treated with QXL138AM.
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QXL138AM is a masked immunocytokine (MIC) comprised of a masked interferon alpha (IFNa) fused to an antibody that targets the CD138 protein on the surface of the tumour cells. Once QXL138AM binds to the tumour cell, proteases on the cell surface cleave the mask off of the IFNa, allowing it to bind its receptor.
Activation of the IFNa receptor complex induces direct killing of tumour cells in addition to activating innate and adaptive anti-tumour immunity. Preclinical data has demonstrated significant anti-tumour efficacy across more than 10 tumour types, including multiple myeloma, where complete regression at doses as low as 0.1 mg/kg has been observed. Nammi has secured orphan drug designation in multiple myeloma from the FDA on the strength of this data.
“While the multiple myeloma field has greatly benefitted from the development of bispecific and cell therapies, there unfortunately remains a significant need for novel therapeutics such as QXL138AM,” said David Stover, Ph.D., President and CEO of Nammi. “We are very excited to partner with MIF and the Multiple Myeloma Research Foundation (MMRF) and leverage their expertise to accelerate the development of QXL138AM. Together, we will work to realise the potential of this therapy to improve the lives of patients with multiple myeloma.”
“Nammi’s innovative technology and its application in multiple myeloma is an important step for the myeloma patient community,” said Michael Andreini, President and CEO of the Multiple Myeloma Research Foundation. “Advancing new therapeutic options for patients is the most critical task at hand, so we are thrilled to support Nammi’s Phase-1 trial to learn the potential of this exciting new immunotherapy approach.”
About Nammi Therapeutics
Nammi Therapeutics, Inc. is an immunooncology company based in Los Angeles that is developing platforms and products that selectively activate anti-tumour immunity within the tumour microenvironment while minimising systemic activation. By reducing systemic activation of the immune system, Nammi Therapeutics expects to improve safety and enhance the ability to combine multiple immune modulators. Nammi Therapeutics ’s lead product candidate, QXL138AM, is a masked immunocytokine (MIC) targeting a masked interferon to the tumour antigen, CD138.