The venture capital arm of German pharma giant Merck KGaA, Merck Ventures has now joined existing investors syndicate of CRT Pioneer Fund (CPF), Novo Holdings A/S and Aglaia Biomedical Ventures BV with an equal size of investment into Microphage Pharma’s extended Series A financing announced in January 2017.
The investment adds to the £9 million ($11.5 million) raised earlier this year through already existing investors.
Macrophage Pharma Limited (‘MPL’) is a young immuno-oncology research and development company focused on macrophage modulation in the tumour microenvironment (TME).
The financing will enable Macrophage Pharma to complete the first clinical study of its lead development candidate, a macrophage targeted p38MAP kinase inhibitor, as well as advancing two additional discovery candidates into preclinical development. The company is also planning to use the additional capital by adding a fourth macrophage-targeted project into its pipeline.
“Macrophage Pharma impressed us with the initial data generated. The differentiated, novel approach they are following in the tumor microenvironment offers promise for the immuno-oncology armory of clinicians to address a broad range of cancers.” Said Hakan Goker, Investment Director at Merck Ventures.
Commenting on the completion of the financing roundIan Miscampbell,Non-Executive Chairman of Macrophage Pharma,said: “We are pleased to welcome Merck Ventures to our existing investor syndicate. Their
commitment represents further validation of the Company’s novel approach in the immuno-oncology field and enables us to expand our pipeline.”The p38MAPi program employs a macrophage-targeting p38 MAPK inhibitor. Once inside the macrophage, it inhibits the release of IL-10, a cytokine that suppresses the activity of T cells, and promotes the secretion of immunostimulatory cytokine IL-12. The inhibitor is coupled to amino acids with esterase sensitive motifs (ESM) designed to promote the accumulation and activity of the drug only inside monocytes and macrophages.
Specific types of macrophages are attracted by tumours, when they come under attack of the immune system, and help to modulate the tumour microenvironment in a manner that promotes cancer survival and that puts the brakes on tumour specific immune responses. Such macrophages are an attractive drug target in immuno-oncology approaches aimed at triggering re-activation of the body’s natural immune system to fight cancer but the cells can also be used as drug carriers.
