Biotech Startup Callio Therapeutics Raises $187M for Multi-Payload ADC Development
Callio Therapeutics, a newly launched biotech startup, has secured $187 million in Series A funding to advance its innovative antibody-drug conjugate (ADC) technology. The company aims to develop ADCs with multiple tumor-killing payloads, potentially offering enhanced efficacy in cancer treatment.
Exclusive Licensing Deal with Hummingbird Bioscience
Callio's ADC capabilities stem from an exclusive licensing agreement with Singapore-based Hummingbird Bioscience. The deal grants Callio access to Hummingbird's "multi-payload" ADC technology for oncology applications. In exchange, Hummingbird received equity in Callio and stands to earn additional milestone payments.
The lead prospect licensed from Hummingbird targets the HER2 protein, a well-known cancer target also addressed by the successful ADC drug Enhertu. However, Callio's candidate distinguishes itself by carrying multiple payloads, which is expected to increase potency and potentially overcome resistance to single-payload ADCs like Enhertu.
Investor Backing and Leadership
The $187 million Series A round was led by Frazier Life Sciences, with participation from nine other investors, including Jeito Capital, Novo Holdings, and Omega Funds. This substantial funding underscores the growing interest in ADC technology within the pharmaceutical industry.
Callio Therapeutics is headquartered in both Seattle and Singapore, reflecting its international roots. The company's leadership team includes several executives with ties to Hummingbird Bioscience:
- Piers Ingram, CEO and co-founder of both Callio and Hummingbird
- Jerome Boyd-Kirkup and Angele Maki, executives from Hummingbird
- Naomi Hunder, former chief medical officer of ProfoundBio, an ADC startup recently acquired by Genmab
Advancing ADC Technology
ADCs have gained significant traction in recent years due to technical advances and clinical trial successes. These drugs link a toxin to a targeting antibody, aiming to selectively destroy cancer cells while sparing healthy tissue. Callio's multi-payload approach represents a potential next step in ADC evolution.
"Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy," stated Piers Ingram, highlighting the promise of this technology.
As Callio Therapeutics moves forward with its ambitious plans, the pharmaceutical industry will be watching closely to see if multi-payload ADCs can deliver on their potential to improve cancer treatment outcomes.
References
- Biotech startup pulls in $187M to make ‘multi-payload’ ADCs
Callio Therapeutics is launching with an ADC technology and programs licensed from Singapore-based antibody drug developer Hummingbird Bioscience.
Explore Further
Who are the key competitors in the ADC technology sector targeting the HER2 protein, and how does Callio's multi-payload approach differentiate itself?
What are the previous funding rounds and financial history of Callio Therapeutics prior to this $187 million Series A?
What are the potential market size and growth prospects for multi-payload ADCs in oncology?
How does Callio Therapeutics plan to address potential regulatory challenges associated with multi-payload ADCs?
What are the backgrounds and experiences of the other members of Callio's executive team, particularly those not previously affiliated with Hummingbird Bioscience?