NeoPhore Ltd.. (5/22/24). "Press Release: NeoPhore Closes Oversubscribed Series B Extension Round with Additional Funding from Bristol Myers Squibb". London.

	Organisation	NeoPhore Ltd.
	Organisation 2	Bristol Myers Squibb Co. (BMS) (NYSE: BMY)
	Group	Bristol Myers Squibb (BMS) (Group)
	Product	small-molecule cancer drug
	Product 2	venture capital
	Index term	NeoPhore–BMS: investment, 202405 financing round Series B extension joined by BMS
	Index term 2	NeoPhore–SEVERAL: investment, 202402 financing round Series B extension £9.6m bringing total Series B to £31.1m
	Person	Baker, Matthew (Matt) (NeoPhore 202003– CEO joined 5/19 before Denceptor Therapeutics + Abzena + Antitope + Biovation)
	Person 2	James, Robert (SIxth Element Capital 2010– Managing Partner + Co-Founder before DFJ Esprit + Prelude Ventures + CRT)

Additional funding will be used to explore novel biology around the MMR pathway and accelerate progression of the lead program into candidate selection

NeoPhore Limited, a small molecule neoantigen immuno-oncology company, today announces that Bristol Myers Squibb (NYSE: BMY) has joined its oversubscribed Series B extension round.

The additional investment from Bristol Myers Squibb will enable NeoPhore to explore novel biology associated with the DNA mismatch repair ('MMR’) pathway in cancer, as well as further progress its pre-clinical studies and deliver a candidate drug in 2025.

NeoPhore is focused on building a pipeline of small molecule drugs targeting novel proteins across the MMR pathway to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. Its first-in-class MMR inhibitors induce neoantigen expression and increase immunogenicity in solid tumours that become exquisitely sensitive to immunotherapy.

Dr Matthew Baker, Chief Executive Officer of NeoPhore, said: “We are thrilled to have Bristol Myers Squibb, an innovator in the immuno-oncology space, join our oversubscribed Series B extension round. The funding strengthens NeoPhore’s position and enables us to complete the necessary pre-clinical studies to deliver a candidate drug for our lead PMS2 program in 2025.”

Dr Robert James, Chairman of NeoPhore, said: “The addition of Bristol Myers Squibb to the Series B extension supports NeoPhore’s novel approach to targeting the MMR pathway with small molecule inhibitors to treat cancer. Building on NeoPhore’s successes in 2023, we hope to see a year of progress for the Company’s pre-clinical programs”.

ENDS

Optimum Strategic Communications
Hana Malik, Eleanor Cooper
Tel: +44 20 3922 0891
[email protected]

NOTES TO EDITORS

About NeoPhore Ltd

NeoPhore, UK is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. Generation of cancer neoantigens in tumours can be exploited by the patients’ immune system to overcome natural defence mechanisms in cancer. The Company’s approach targets the DNA mismatch repair (MMR) pathway, which has been proven to promote neoantigen creation and subsequent immunity against numerous cancers. Using these insights, NeoPhore aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. NeoPhore was spun-out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund. For more information, please visit www.neophore.com

About Bristol Myers Squibb Company

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.

Record changed: 2025-01-25