PhoreMost Ltd.

Plus, news about Chai Discovery, Relay Therapeutics, Incannex Healthcare, PhoreMost, Epsilogen and LIFTT: Ionis prices $500M offering: The veteran RNA biotech is offering 11.5 million shares $IONS at $43.50 apiece, almost $5.00 below Monday’s closing price. The Carlsbad, CA-based drugmaker has long relied on partners to commercialize its medicines but is attempting to launch its own treatments, with multiple late-stage programs in the works. The FDA is set to decide whether to approve Ionis’ olezarsen in familial chylomicronemia syndrome by Dec. 19. Terns Pharmaceuticals eyes $125M offering: The same day that it shared positive data for its oral GLP-1 , the biotech said it would seek $125 million in a public offering. OpenAI invests in drug discovery: The ChatGPT maker is joining Thrive Capital and Dimension Capital to back Chai Discovery, which raised a total of $30 million, according to Bloomberg . The startup, which was founded less than a year ago, is using machine learning to predict biochemical molecule structures and unveiled its first open-source model. Relay Therapeutics also tees up offering: After sharing early-stage breast cancer data on Monday morning, Relay went to investors with a $200 million public offering. Incannex Healthcare forges up to $60M in financing: The funding , which comes from Arena Investors, will help the chronic disease biotech as it works on clinical trials across sleep apnea, generalized anxiety disorder and rheumatoid arthritis. PhoreMost adds $12M to Series B: The Cambridge, UK-based startup previously closed the round in 2021. The total raise now surpasses $50 million . It’s working on new degraders in oncology and inflammatory diseases. Epsilogen extends Series B with £12.5M: The London-based startup originally raised £30.75 million for the round in 2022. The new funding is expected to help fuel a proof-of-concept trial in platinum-resistant ovarian cancer. The European Investment Bank and Italian VC firm LIFTT are jointly contributing to a €100M venture that will back 20 to 30 startups, including those in life sciences.

Milestone payment follows successful target identification and validation in separate project under same collaboration CAMBRIDGE, England--(BUSINESS WIRE)-- PhoreMost Ltd., has triggered a second milestone payment in its multi-project target discovery collaboration with Boehringer Ingelheim. This was achieved by identifying and validating novel targets supporting Boehringer Ingelheim’s ambition to develop first-in-class therapies, to transform patients’ lives. PhoreMost and Boehringer Ingelheim entered a multi-project collaboration back in January 20201. In this second project, PhoreMost is deploying its in-house expertise and next-generation phenotypic screening platform, SITESEEKER®, towards novel disease-relevant pathways focusing on retinal health, a key research area of Boehringer Ingelheim. The first milestone payment was triggered in January 20232, following successful target identification and validation in a separate project under the same collaboration. Dr. Neil Torbett, Chief Executive Officer, PhoreMost said: “Achieving this second milestone, in what has been a terrific collaboration between ourselves and the Boehringer Ingelheim team, demonstrates the power of the SITESEEKER platform and the partnership moving forward. We remain very excited about the potential of our technology to identify novel drug targets across a range of therapeutic areas, and to contribute to the development of first-in-class therapeutics for patients in need.” As with targets previously identified under the collaboration, Boehringer Ingelheim will continue the development of potential new therapies against these targets, leading to potential further success based pre-clinical, clinical and commercial milestone payments. Press release: PhoreMost and Boehringer Ingelheim enter multi-project drug discovery collaboration (7th January, 2020) Press release: PhoreMost announces progression of Target Discovery alliance with Boehringer Ingelheim (9th January 2023) View source version on businesswire.com: Contacts Media enquiries PhoreMost: Dr Ben Rutter Zyme Communications E-mail: ben.rutter@zymecommunications.com Tel: +44 (0)7920 770 935 Source: PhoreMost Ltd. View this news release online at:

Additional funding will be used to explore novel biology around the MMR pathway and accelerate progression of the lead program into candidate selection LONDON, May 22, 2024 /PRNewswire/ -- NeoPhore Limited, a small molecule neoantigen immuno-oncology company, today announces that Bristol Myers Squibb (NYSE: BMY) has joined its oversubscribed Series B extension round. The additional investment from Bristol Myers Squibb will enable NeoPhore to explore novel biology associated with the DNA mismatch repair ('MMR') pathway in cancer, as well as further progress its pre-clinical studies and deliver a candidate drug in 2025. NeoPhore is focused on building a pipeline of small molecule drugs targeting novel proteins across the MMR pathway to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. Its first-in-class MMR inhibitors induce neoantigen expression and increase immunogenicity in solid tumours that become exquisitely sensitive to immunotherapy. Dr Matthew Baker, Chief Executive Officer of NeoPhore, said: "We are thrilled to have Bristol Myers Squibb, an innovator in the immuno-oncology space, join our oversubscribed Series B extension round. The funding strengthens NeoPhore's position and enables us to complete the necessary pre-clinical studies to deliver a candidate drug for our lead PMS2 program in 2025." Dr Robert James, Chairman of NeoPhore, said: "The addition of Bristol Myers Squibb to the Series B extension supports NeoPhore's novel approach to targeting the MMR pathway with small molecule inhibitors to treat cancer. Building on NeoPhore's successes in 2023, we hope to see a year of progress for the Company's pre-clinical programs". NOTES TO EDITORS About NeoPhore Ltd NeoPhore, UK is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. Generation of cancer neoantigens in tumours can be exploited by the patients' immune system to overcome natural defence mechanisms in cancer. The Company's approach targets the DNA mismatch repair (MMR) pathway, which has been proven to promote neoantigen creation and subsequent immunity against numerous cancers. Using these insights, NeoPhore aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. NeoPhore was spun-out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund. For more information, please visit About Bristol Myers Squibb Company Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram. SOURCE NeoPhore