LOS
ANGELES, Aug. 6, 2024 /PRNewswire/ -- Nammi
Therapeutics, Inc. (Nammi) announces a $1M investment commitment by the Myeloma
Investment Fund (MIF) in a $30M
Series B financing round prior to the planned start of a
first-in-human Phase 1 study of our lead program, QXL138AM, in
patients with locally advanced unresectable and/or metastatic solid
tumors and multiple myeloma.
QXL138AM is a Masked Immunocytokine (MIC) comprised of a masked
interferon alpha (IFNa) fused to an antibody that targets the CD138
protein on the surface of the tumor cells. Once QXL138AM binds to
the tumor cell, proteases on the cell surface cleave the mask off
of the IFNa allowing it to bind its receptor. Activation of
the IFNa receptor complex induces direct killing of tumor
cells in addition to activating innate and adaptive anti-tumor
immunity. Preclinical data has demonstrated significant anti-tumor
efficacy across more than 10 tumor types including multiple myeloma
where complete regression at doses as low as 0.1 mg/kg have been
observed. Nammi has secured Orphan Drug Designation in
multiple myeloma from the FDA on the strength of this
data.
"While the multiple myeloma field has greatly benefitted from
development of bispecific and cell therapies, there unfortunately
remains a significant need for novel therapeutics such as
QXL138AM.", said David Stover,
Ph.D., President and CEO of Nammi. "We are very excited to partner
with MIF and the Multiple Myeloma Research Foundation (MMRF) and
leverage their expertise to accelerate the development of QXL138AM.
Together, we will work to realize the potential of this therapy to
improve the lives of patients with multiple myeloma."
With this investment by MIF, Nammi anticipates the $30M Series B financing round will be fully
subscribed upon its closing when the first patient has been treated
with QXL138AM.
"Nammi's innovative technology and its application in multiple
myeloma is an important step for the myeloma patient community,"
said Michael Andreini, President and
CEO of the Multiple Myeloma Research Foundation. "Advancing new
therapeutic options for patients is the most critical task-at-hand,
so we are thrilled to support Nammi's Phase-1 trial to learn the
potential of this exciting new immunotherapy approach."
About Nammi Therapeutics, Inc.
Nammi Therapeutics, Inc. is an immuno-oncology company based in
Los Angeles that is developing
platforms and products that selectively activate anti-tumor
immunity within the tumor microenvironment while minimizing
systemic activation. By reducing systemic activation of the
immune system, Nammi expects to improve safety and enhance the
ability to combine multiple immune modulators. In addition to
the MIC platform, Nammi has also developed a nanoparticle platform
to deliver Immune Modulating Prodrugs (IMPs) using their Nammisome
technology. Multiple Nammisome clinical candidates have also been
selected for development. For more information
visit www.nammirx.com or email info@nammirx.com
About the Myeloma Investment Fund (MIF)
The Myeloma Investment Fund is a venture philanthropy fund that
invests in promising companies, clinical assets, and technologies
in oncology to drive the development of new therapies for multiple
myeloma. The MIF collaborates closely with portfolio companies to
help them advance multiple myeloma research. This evergreen fund is
supported entirely by philanthropy; all profits will be reinvested
back into research for more effective treatments until there is a
cure for every patient. For more information, visit
www.myelomainvestmentfund.org
About the Multiple Myeloma Research Foundation (MMRF)
The Multiple Myeloma Research Foundation (MMRF) is the largest
nonprofit in the world solely focused on accelerating a cure for
each and every multiple myeloma patient. We drive the development
and delivery of next-generation therapies, leverage data to
identify optimal and more personalized treatment approaches and
empower myeloma patients and the broader community with information
and resources to extend their lives. Central to our mission is our
commitment to advancing health equity so that all myeloma patients
can benefit from the scientific and clinical advances we pursue.
Since our inception, the MMRF has committed over $600 million for research, opened nearly 100
clinical trials, and helped bring 15+ FDA-approved therapies to
market, which have tripled the life expectancy of myeloma patients.
To learn more, visit www.themmrf.org
For MMRF or MIF media inquiries, please contact: Anna Otis, Manager, Brand Marketing,
otisa@themmrf.org
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SOURCE Nammi Therapeutics, Inc.