The Massachusetts-based immuno-oncology startup GO Therapeutics has reportedly announced to have inked a contract with Roche to develop antibodies for cancer. As per trusted sources, the startup would receive an upfront and near-term funds worth USD 9 million as part of the deal.
Reportedly, GO Therapeutics is further eligible to garner USD 186 million in milestone receipts which is in addition to the mid-single-digit to low double-digit royalties on any products that would be developed as part of the contract.
While speaking on the latest deal, Chief Executive Officer of GO Therapeutics’, Constantine Theodoropulos reportedly stated that the firm is pleased to form the partnership which aims to develop a unique immune-redirected therapy to potentially enhance the lives of people suffering from cancer in the future.
The glycoprotein targeting platform of the firm has opened an exciting class of tumor-specific antigens that would assist in widening the therapeutic scope for cancer therapies such as CAR-T, T-cell bispecific antibodies, and ADCs. Moreover, the results obtained from preclinical data demonstrate that the approach of GO can provide improved specificity in aiming toward solid tumors over normal tissue and show clean in-vivo toxicity profiles with regards to potent immunotherapies, Theodoropulos added.
For the record, GO Therapeutics has been focusing to progress in glycobiology and develop cancer drugs that are less toxic and more potent. Reportedly, the firm creates cancer-specific antibodies which can be utilized as immune-based cell therapies, bispecific T-cell engagers, and antibody-drug conjugates (ADCs).
The technology of the company is designed to be more targeted that ensures manufacturing of effective drugs with less impact on healthy cells and fewer side effects. The company operates out of a shared laboratory space in Cambridge and was founded by Thayer White, Constantine Theodoropulos, and Hans Wandall.
Reportedly, GO Therapeutics anticipates a Series B financing round toward the end of 2018 and expects to add more employees.