858 Therapeutics has announced the successful completion of a $50 million Series B financing round, spearheaded by Avidity Partners, to propel the development of its small-molecule therapeutics pipeline. The primary focus of this funding is to advance ETX-19477, a selective inhibitor targeting the DNA repair protein PARG, through clinical trials.
Clinical Advancement of ETX-19477
ETX-19477 is currently undergoing a Phase 1 clinical trial, a multi-center, open-label study designed to assess the drug's safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy. The trial employs a dose escalation and expansion design, initially enrolling patients with specific tumor types and genetic alterations believed to be particularly sensitive to PARG inhibition. This strategic approach aims to identify the optimal patient population for PARG inhibitor therapy and to refine the understanding of ETX-19477's clinical potential.
Following the determination of a recommended dose for expansion, 858 Therapeutics intends to initiate Phase 2 cohorts focused on specific tumor types and biomarkers. This next phase will further evaluate the drug's efficacy and identify predictive markers for patient response.
Leadership Perspective
"We are pleased to have strong backing from an elite group of life science investors. The Series B financing is a testament to the 858 team and the progress we’ve made across our portfolio, including the advancement of our PARG inhibitor ETX-19477 into the clinic," said Jeffrey Stafford, Ph.D., CEO of 858 Therapeutics.
Monal Mehta, Ph.D., Managing Director at Avidity Partners, who will also be joining 858 Therapeutics’ Board of Directors, added, "858 Therapeutics has a seasoned management team with a track record of drugging challenging targets. We are excited to partner with the company to help address unmet needs across a variety of disease types in an effort to bring transformative medicines to patients."
