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Innovation community news – June

Published on 26 June 2024

A summary of recent news and announcements from Milton Park based companies:

  • Breakthroughs in cancer treatment at Summit Therapeutics,
  • Immunocore’s expanding impact with KIMMTRAK ,
  • Nexeon’s global expansion in battery materials, 
  • Eden research reports substantial growth.

Breakthroughs in cancer treatment at Summit Therapeutics

Summit Therapeutics has shown significant operational progress with ivonescimab, a novel bispecific antibody.

The promising intracranial anti-tumour activity and safety data presented at the 2024 European Lung Cancer Congress highlighted the potential of ivonescimab to revolutionise cancer treatment.

The company continues to push boundaries in immunotherapy, combining mechanisms to enhance therapeutic efficacy. 

Immunocore’s expanding impact with KIMMTRAK 

Immunocore reported a strong first quarter, highlighted by the success of KIMMTRAK, which generated $70.3 million in net revenues.

KIMMTRAK is a novel bispecific protein that targets gp100, a lineage antigen expressed in melanocytes and melanoma, designed to redirect and activate T cells to recognise and kill tumour cells.

Bahija Jallal, CEO of Immunocore, said: “With our differentiated pipeline, we continue to work with a sense of urgency to bring KIMMTRAK to more patients and explore innovative new TCR treatments across oncology, infectious diseases, and autoimmune diseases.”

Nexeon’s global expansion in battery materials 

Nexeon, a pioneer in silicon anode materials for lithium-ion batteries, is beginning construction of its first commercial production facility in South Korea.  

This partnership with materials company OCI marks a critical step in Nexeon’s growth, responding to the increasing demand for advanced battery materials.  

Scott Brown, CEO of Nexeon, commented: “It marks a key moment in our growth and reflects the commercial interest customers have shown in our technology.”

Pathios Therapeutics’ strategic investment for cancer immunotherapy 

Pathios Therapeutics has secured $25 million in Series B financing, including a strategic investment from Bristol Myers Squibb.

This funding will accelerate the development of Pathios Therapeutics’ innovative cancer immunotherapy targeting GPR65. The investment will also support the expansion of its team and enhance its capabilities in developing first-in-class therapies. 

Tom McCarthy Ph.D., Co-Founder and Executive Chair of Pathios Therapeutics, said: “The support of a syndicate, comprised of premier life science investors Canaan and Brandon Capital and a global leader in oncology in Bristol Myers Squibb, adds both capital and expertise…”

Eden research reports substantial growth

Eden Research has achieved remarkable growth, with a 78% increase in annual revenues, reaching £3.2 million for the year ended December.

This is up from £1.8 million the previous year.

Lykele van der Broek, Chairman of Eden Research plc, commented: “Eden made substantial progress against its strategic goals in 2023, with numerous product approvals across key markets, including the US, and the launch of our innovative seed treatment product, Ecovelex.

“Developed in less than four years, this is a groundbreaking moment for the business and a testament to the strength of Eden’s capabilities and commercial relationships.”

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