Roquefort Therapeutics Acquires TACC3 Inhibitor AO-252 in £31.9M Deal, Rebrands as Coiled Therapeutics
Key Insights
Roquefort Therapeutics (search) has acquired exclusive worldwide rights to AO-252, a clinical-stage TACC3 (search) inhibitor, for £31.875 million in an all-share deal, marking one of the most significant pipeline transformations in UK biotech.
Early Phase I trial data shows tumor reductions up to 29% at low doses with a benign safety profile, while the drug's brain-penetrant properties enable treatment of both primary CNS tumors and brain metastases.
The company will rebrand as Coiled Therapeutics (search) and move to AIM, with £8.5 million raised to fund dose expansion studies through 2026-2027 targeting up to 350,000 patients across multiple cancer indications.
Roquefort Therapeutics (search) plc has announced the acquisition of exclusive worldwide rights to AO-252, a clinical-stage oral TACC3 (search) inhibitor, in a £31.875 million all-share transaction that represents one of the most decisive pipeline transformation events in UK biotech in recent months. The deal, sourced from Coiled Therapeutics (search) Inc., a spin-out of A2A Pharmaceuticals (search), will be accompanied by an £8.5 million conditional placing at 10 pence per share.
Subject to completion, the company will rebrand as Coiled Therapeutics (search) plc and relocate its listing from the LSE Main Market to AIM, repositioning itself as a dedicated clinical-stage oncology developer. The transaction enables a pre-clinical company to acquire direct ownership of an asset already demonstrating early efficacy signals in human trials.
TACC3: A Precision Oncology Target
AO-252 targets TACC3 (search) (Transforming Acidic Coiled-Coil Containing Protein 3), a centrosomal scaffolding protein overexpressed in multiple aggressive tumor types, including ovarian, triple-negative breast, endometrial, gastric, prostate, and colorectal cancers, as well as brain metastases. In healthy tissue, TACC3 plays a limited role and is not required for normal cell survival, creating a potentially favorable therapeutic window.
Within tumor cells, TACC3 (search) serves several oncogenic functions: it is integral to mitotic spindle assembly, involved in DNA damage repair and replication, participates in transcription regulation, and contributes to immune evasion mechanisms. Overexpression has been linked to genomic instability, accelerated tumor proliferation, and resistance to conventional cytotoxic agents.
AO-252 disrupts TACC3 (search) protein-protein interactions, preventing the protein from fulfilling its role in mitosis and DNA maintenance. The drug selectively destabilizes rapidly dividing cancer cells without the broad cytotoxicity of traditional chemotherapy, positioning it as a precision oncology alternative.
A particularly notable differentiator is AO-252's blood-brain barrier penetrance, enabling activity against both primary CNS tumors and brain metastases—a clinical domain where effective small-molecule options remain scarce and where many targeted therapies fail.
Early Clinical Promise
AO-252 is currently enrolling patients in a U.S. Phase I trial (NCT06136884) for advanced solid tumors. Early readouts have reported tumor reductions of up to 29% at relatively low dose levels, alongside a consistently benign safety profile. The initial trial design has been expanded through amendment to broaden enrollment across all solid tumors.
Enrollment of ovarian and prostate cancer patients is underway, with the first prostate cancer patient enrolled in November 2025. Dose expansion studies are planned for 2026, with the company stating its intention to enroll a sufficient patient cohort to support planning for Phase 3 registrational trials.
In preclinical models, AO-252 demonstrated complete tumor regression as monotherapy across ovarian, triple-negative breast, endometrial, gastric, and prostate cancer models, as well as robust activity in in-vivo brain metastasis models. Based on the biomarker population, the company estimates AO-252 could be relevant for up to 350,000 patients across multiple indications in the U.S. and European Union.
Market Context and Competition
The commercial backdrop is significant, with comparable approved cancer therapies targeting similar mechanisms currently generating over $20 billion annually. Johnson and Johnson (search)'s $3.05 billion acquisition of Halda Therapeutics (search) in November 2025 for an asset at similar development stage focused on hormone-resistant prostate cancer illustrates the premium large pharma is prepared to pay for well-positioned clinical programs.
AO-252 occupies a relatively uncrowded competitive position. While the mitotic spindle has long been a validated anti-cancer target, existing agents lack the target specificity of TACC3 (search) inhibition and carry substantial toxicity burdens. There are no currently approved agents that directly target TACC3.
The expansion into TP53 (search)-mutated cancers (ovarian, endometrial, triple-negative breast) is clinically logical, as TP53-mutant tumors, which account for the majority of high-grade gynecological and triple-negative breast cancers, are particularly dependent on intact mitotic machinery, potentially amplifying the therapeutic effect of TACC3 (search) disruption.
Leadership and Funding
The deal brings substantial changes at board level. Dr. Sotirios Stergiopoulos, co-founder of Coiled USA, becomes Executive Chairman, while Sridhar Vempati takes over as Chief Executive Officer. Both are investing £500,000 each into the placing. Stephen West, Roquefort's current Executive Chairman, contributed £50,000 and transitions to a Non-Executive Director role.
Net proceeds of approximately £7.7 million, after fees and commissions, will fund dose expansion studies and patient enrollment through 2026 and 2027, building toward the data required to plan registrational trials. The enlarged group will also assess Roquefort's existing STAT-6 program for Phase I clinical trials, giving the combined company a two-asset pipeline.
Strategic Implications
The Roquefort-to-Coiled Therapeutics (search) transformation represents a meaningful signal within the UK oncology biotech ecosystem. The deliberate relocation from the Main Market to AIM recognizes that the growth-oriented structure of AIM, with its lighter regulatory burden and stronger retail investor participation in biotech, may better suit a company at this stage of clinical development.
The deal reinforces a broader trend of UK biotechs accessing U.S.-originated clinical-stage assets as a mechanism for rapid pipeline advancement rather than pursuing de novo drug discovery. With traditional pre-clinical timelines stretching five to seven years before first-in-human studies, reverse takeovers of this type can compress time-to-catalyst substantially.
The company is targeting material data readouts by the fourth quarter of 2026, timed to support commercial and strategic partnering discussions with large pharmaceutical companies, with whom Coiled USA is already in active dialogue. The transaction remains conditional on shareholder approval and AIM admission.