Heterogeneity, in both tumors and their microenvironment, limits the success of current cancer treatments. But it also provides opportunities. Heterogeneities “are not barriers to therapy, they are vulnerabilities to be exploited,” was how David DeNardo described his take at the 2023 annual meeting of the American Association for Cancer Research (AACR) on Sunday.

During what has become one of the slowest IPO years in recent memory, cancer immunotherapy company Cytomed Therapeutics Ltd. debuted on Nasdaq, raising $9.65 million, while inflammatory disease firm Acelyrin Inc. filed to list its stock for a potential $100 million. Up to this point, there were only six biopharma IPOs completed this year – the fewest since 2013. Cytomed, which priced 2.4 million shares at $4 apiece, is now the seventh for 2023, and the fifth on Nasdaq. Two other IPOs have closed on Chinese markets.

Pyramid Biosciences Inc. has in-licensed Genequantum Healthcare Co. Ltd.’s preclinical trophoblast cell surface antigen 2 (TROP2)-targeting antibody-drug conjugate (ADC), GQ-1010, in a deal worth up to $1 billion in potential milestones. Under the terms, Pyramid gains exclusive rights to develop and commercialize GQ-1010 globally, excluding greater China (mainland China, Hong Kong, Macau and Taiwan). In exchange, privately held Genequantum, of Suzhou, China, will receive an up-front payment of $20 million and up to an additional $1 billion in milestone payments. Genequantum will also be eligible to receive tiered-based sales royalties.

Junshi Biosciences Co. Ltd.’s PARP inhibitor, senaparib (JS-109/IMP4297), met the primary endpoint of progression-free survival in a phase III ovarian cancer study, according to a prespecified interim analysis.

Alentis Therapeutics SA has closed a $105 million series C round which will fund simultaneous phase II and phase Ib trials of anti-Claudin-1 antibodies in the treatment of organ fibrosis and phase I development in fibrosis-associated cancers. At the same time, the company will extend the reach of its Claudin-1 biology into antibody-drug conjugates and bispecific constructs, to further exploit the role of the transmembrane protein in maintaining cellular integrity and controlling cell-to-cell signaling.

Immutep Ltd.’s lead immunotherapy candidate, eftilagimod (IMP-321, efti), plus pembrolizumab reverted previous resistance to PD-1/PD-L1 therapy in part B of the TACTI-002 phase II trial in second-line metastatic non-small-cell lung cancer (NSCLC) in patients refractory to anti-PD-1/PD-L1 therapy.

A $10 million pot of seed money has catapulted Ctrl Therapeutics Inc. into existence, enabling it to advance an immunotherapy approach in which tumor cells are extracted from the bloodstream rather than the tumor itself. By targeting circulating tumor-reactive lymphocytes (cTRLs) in the blood, the company’s cell therapy platform – which originated at the University of Toronto – is designed to address the challenges of existing cell therapy technologies.

Word recently from Nexcella Inc. of progress in its potentially BLA-enabling phase Ib/IIa study, with the BCMA-targeted, autologous CAR T therapy called NXC-201 for relapsed/refractory (r/r) multiple myeloma and r/r amyloid light chain amyloidosis, helped put nearer to center stage the class, which has proven attractive to a handful of developers. Among others in the space are Arcellx Inc. and Gracell Biotechnologies Inc.