Endeavor's $132.5M haul to propel fibrotic lung, solid tumour programmes

24 Apr 2024
firstwordpharma.com
Phase 2ADC
Scoring a $132.5-million windfall, Endeavor BioMedicines has pulled off an oversubscribed series C round to support its frontrunner programme in fibrotic lung disorders and an antibody drug conjugate (ADC) hopeful against solid tumours.
The San Diego-based startup launched in 2021 with $62 million and topped up its financial resources with a $101-million series B a year later.
The latest round was led by new investor AyurMaya, an affiliate of Matrix Capital Management, along with participation from other new investors such as Fidelity Management & Research Company, Invus, SymBiosis, Velosity Capital, and Woodline Partners, plus support from existing backers as well.
Proceeds will go toward Endeavor's lead candidate ENV-101, which inhibits the Hedgehog signaling pathway implicated in scar tissue buildup in fibrotic diseases like idiopathic pulmonary fibrosis (IPF) and progressive pulmonary fibrosis (PPF).
According to the company, existing standard treatments for IPF can slow down lung function decline, but they lack the ability to halt or reverse progression, and often pose tolerability challenges, which limits their long-term suitability for many patients. Endeavor says preliminary Phase IIa data to be presented at the American Thoracic Society (ATS) annual meeting next month will show "underscore [ENV-101's] potential to modify disease and offer treatment outcomes that go beyond slowing disease progression."
Endeavor plans to initiate a Phase IIb trial with separate cohorts for IPF and PPF patients this year.
The funding will also advance Endeavor's ENV-501 programme, an ADC targeting the HER3 receptor that is overexpressed on many solid tumours. The company says it has engineered ENV-501 with features aimed at improving tumour penetration and limiting off-target toxicity compared to other HER3-targeting ADCs, giving it a "clear path for differentiation" against similar drugs in development. A Phase I/II trial is planned for 2024.
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