Arch Oncology scores $105M for anti-CD47 med in solid tumors, multiple myeloma

Having moved its anti-CD47 antibody into a phase 1/2 study, Arch Oncology collected $105 million from new and old backers to fuel the drug’s journey through the clinic and into new trials. 

Arch is testing the drug alone in patients with multiple myeloma and alone and in combination with the chemotherapy drug paclitaxel in patients with “select solid tumors.” Next up, Arch plans to test AO-176 alongside Merck’s PD-1 drug Keytruda in solid tumors and in combination with other drugs for multiple myeloma, namely Velcade (bortezomib) and dexamethasone. And the company won’t stop there. 

RELATED: Gilead strikes $4.9B Forty Seven acquisition, paying a hefty premium for cancer drug 

“We will also explore other indications and combinations consistent with our novel mechanisms of action,” said Arch CEO Laurence Blumberg, M.D., in a statement Tuesday. 

The drug works by blocking CD47, a cell surface receptor expressed at high levels in multiple cancers. One of the most sought-after targets in immuno-oncology, CD47 sends out a “don’t eat me” signal to stop immune cells from detecting, engulfing and destroying tumor cells. 

Arch believes that AO-176 could be an improvement over other CD47-targeting antibodies in development because it’s designed to bind better to the CD47 receptor in acidic conditions, like those found in the tumor microenvironment, while binding less to the CD47 found on normal cells, including red blood cells. 

RELATED: Not so fast, ALX: FDA pumps the brakes on cancer hopeful 10 months after fast-tracking it 

It’s an approach Roche Venture Fund, Rivervest Venture Partners, 3x5 Partners and Lightchain already bought into and that attracted several newcomers, including Eventide Asset Management and Cowen Healthcare Investments. The new financing comes two years after Arch raised $50 million in a series B round. 

In March 2020, Gilead Sciences inked a $4.9 billion deal to acquire Forty Seven, paying a major premium to get its hands on the anti-CD47 antibody magrolimab. The company is developing the drug for patients with solid tumors as well as those with myelodysplastic syndromes, acute myeloid leukemia, non-Hodgkin lymphoma and diffuse large B-cell lymphoma.