Company raises $30 Million to allocate to pre-clinical pipeline development
LEXINGTON, MA – October 29, 2020 — Elpis Biopharmaceuticals today announced the closing of a $30 million Series A financing to propel solid tumor and hematological disease therapeutics through pre-clinical studies, which brings the company to a total of $40 million raised including seed funding. The investment is part of a new strategic partnership with a global pharmaceutical company.
Elpis Biopharmaceuticals also welcomes seasoned translational and clinical research investigator to the Scientific Advisory Board – Michael Atkins MD, Deputy Director of the Georgetown Lombardi Comprehensive Cancer Center in Washington, DC and Professor of Oncology and Medicine (Hematology/Oncology) at Georgetown University School of Medicine.
“We are excited to have this financial support as we continue to advance our pre-clinical assets,” said Yan Chen, President and Chief Executive Officer at Elpis Biopharmaceuticals. “We believe our biologics platforms enable us to discover and engineer better treatment options for cancer patients and look forward to continuing to grow and advance our pipeline into the clinic. Michael brings significant expertise in cancer immunotherapy from his distinguished tenure at leading medical institutions. We are looking forward to leveraging his expertise, as well as other scientific experts, to guide us as we bring effective treatment options to patients as soon as possible.”
Dr. Atkins is a leader in translational and clinical research. He began his career at Tufts Medical Center before moving to Beth Israel Deaconess Medical Center and being appointed Professor at Harvard Medical School where he served as Deputy Chief of the Division of Hematology/Oncology and leader of the Biologic Therapy and Cutaneous Oncology Programs, as well as Co-PI of the Harvard Skin Cancer SPORE, leader of the Dana Farber Harvard Cancer Center Kidney Cancer Program and Director of the DF/HCC Kidney Cancer SPORE. In 2012, he became the Deputy Director of the Georgetown Lombardi Comprehensive Cancer Center and William M. Scholl Professor and Vice Chair of the Department of Oncology. He is the former president of the Society for Immunotherapy of Cancer and currently co-Chair of the Melanoma Research Foundation Scientific Advisory Council. His current research focuses on immunotherapy for melanoma, renal cell carcinoma, and predictive biomarkers for biologic therapy response.
“I am excited to join the Elpis Scientific Advisory Board and provide guidance as they propel their pre-clinical candidates forward,” said Michael Atkins. “The Elpis platforms use unique approaches to address cancer resistance and have the potential to bring about the next generation of transformative cancer immunotherapeutic candidates.”
Elpis’ proprietary mRNADis™ antibody discovery and mSCAFold™ rational protein engineering platforms enable rapid and robust discovery of novel bi-specific antibodies, dual targeting and armored CAR-T, and mechanism re-directed immunomodulator proteins.
Elpis has a broad preclinical pipeline aimed at overcoming tumor resistance by synergizing multiple mechanisms ranging from tumor targeting to immune cell activation. The Company’s lead immuno-oncology product candidates EPIM-001, a bispecific and engineered dual functional IL-2Rβ agonist with minimal IL-2Rα activation to treat solid tumor indications, and EPC-001, a CD19/CD22 dual targeting CAR-T to treat B Cell malignancies are being advanced to enter clinical studies.
About Elpis Biopharmaceuticals
Elpis Biopharmaceuticals is developing multifunctional immunotherapies, including dual-targeted armored CAR-T cells and bispecific biologics, aimed at activating the immune system to overcome tumor resistance. Through its proprietary antibody discovery and protein engineering platforms, Elpis is advancing a rich pipeline to treat solid tumors and hematological malignancies with the goal of improving outcomes for patients with difficult-to-treat and resistant cancers. Elpis is headquartered in Lexington, MA, with research labs in the U.S. and China.
Ahmad Reza Saadat
Vice President of Business Development & Corporate Strategy