Pure Biologics has entered into an agreement to sell global rights to molecules PBA-0405 (project PB004) and PBA-0111 (project PB003G). The other party to the transaction is Promittens Corporation, an American company founded by experienced executives with many years of experience in the capital markets and pharmaceutical and biotechnology industries.
Pure Biologics will be entitled to an upfront fee (“upfront”) in the total amount of $8 million to $9 million, depending on the results of the Phase 0 clinical trials conducted in the aforementioned projects. The agreement also provides for potential milestone payments (“milestones”) totaling up to $299 million and royalties (“royalties”). Pure Biologics is preparing to unveil the Company’s development plans for the coming years in the first quarter of 2025.
Dr. Filip Jelen, co-founder, major shareholder and CEO of Pure Biologics:
The signed agreement represents a very important step in Pure Biologics’ development. Its conclusion signifies the implementation of a key element of the strategy adopted years ago, involving the development of potentially best-in-class drug candidates, from the discovery stage to clinical trials. Proceeds from the sale will allow us to stabilize the Company’s financial position and focus on new projects. We intend to present plans for the Company’s further development later in the first quarter of 2025.
Devrim Aran, co-founder and CEO of Promittens Corporation:
Our years of experience in the industry, combined with access to the global capital markets, will allow us to advance the antibodies developed by Pure Biologics. They have the potential to become breakthrough drugs for the treatment of various solid tumors and hematological malignancies.
PBA-0405 (Project PB004) is a therapeutic antibody of the IgG1 class, which is expected to stimulate the immune response of NK cells against tumor cells bearing the tumor antigen ROR-1, leading to their direct killing by an antibody-dependent cellular cytotoxicity (ADCC) mechanism.
PBA-0405 was developed by Pure Biologics to improve the treatment of B-cell malignancies and solid tumors. The antibody was designed to optimally activate the immune system to eliminate cancer cells, with minimal risk of side effects.
In studies to date, it has shown significantly better performance than other antibodies targeting ROR1. PBA-0405 has shown very promising results in the first clinical trials involving patients with head and neck cancers and soft tissue sarcomas, which is currently being conducted in the US.
PBA-0111 (PB003G) is a dual-action therapeutic antibody that simultaneously eliminates immunosuppressive regulatory T (Treg) cells in the tumor microenvironment and stimulates cytotoxic NK and T lymphocytes to directly target tumor cells. It targets GARP, a protein expressed on tumor cells, and immunosuppressive regulatory T cells, which inhibit the immune system’s ability to eliminate tumor cells.
PBA-0111 was developed by Pure Biologics and has the potential to become a best-in-class drug for the treatment of solid tumors. PBA-0111 is designed to act by a dual mechanism: to overcome immunosuppression by blocking and eliminating regulatory T cells, and to enable the immune system to target and destroy tumor cells targeted by PBA-0111.
The FDA has approved a Phase 0 clinical trial protocol for PBA-0111 in patients with head and neck cancers and soft tissue sarcomas. The U.S. trial is scheduled to begin in early 2025.
