Scopus BioPharma Expands Immunotherapy Pipeline with Acquisition of Olimmune
June 30 2021 - 9:30AM
Scopus BioPharma Inc. (Nasdaq:
“SCPS”), a clinical-stage biopharmaceutical company
developing transformational therapeutics, today announced the
acquisition of Los Angeles-based Olimmune Inc.
Olimmune is a developer of groundbreaking
oligonucleotide immunotherapies for treatment-resistant and
metastatic cancers. Olimmune’s lead drug candidate, OLIM-01, is
being developed for genitourinary and head and neck cancers. It is
anticipated that INDs for these indications will be submitted by Q1
2023.
Joshua R. Lamstein, Chairman of Scopus BioPharma,
stated, “The acquisition of Olimmune dramatically expands our reach
in immuno-oncology. Both companies have been pioneering proprietary
technologies to address traditionally “undruggable” targets, such
as STAT3. This combination positions Scopus as a global leader in
bifunctional oligonucleotide cancer therapeutics.”
Olimmune was co-founded by Marcin Kortylewski,
Ph.D., a leading immuno-oncologist and Professor in the Department
of Immuno-Oncology at City of Hope. Dr. Kortylewski and his
laboratory were instrumental in the seminal discovery that
successful cancer immunotherapy needs to combine both TLR9
immunostimulation and STAT3 inhibition. This strategy underpins
CpG-STAT3siRNA, Scopus’ lead drug candidate, which is covered by
certain patents licensed from City of Hope. City of Hope is a
world-renowned independent research and treatment center for
cancer, diabetes and other life-threatening diseases near Los
Angeles, California.
Dr. Kortylewski stated, “While it’s necessary to
deliver STAT3 inhibitors to the proper cells, STAT3 inhibition, by
itself, is not sufficient. You also need to stimulate immune
activation. Fortunately, the short CpG sequence also serves as a
TLR9 agonist, so you get release of immunosuppression by the STAT3
inhibitor and immune activation through TLR9 activation, both of
which are necessary for a robust anti-cancer response.”
Dr. Kortylewski added, “City of Hope and Scopus are
working closely to initiate a Phase 1 clinical trial evaluating
CpG-STAT3siRNA for non-Hodgkin lymphoma. Now, we will work towards
expanding our collaboration to other challenging cancer
indications, such as head and neck, kidney, or prostate cancers
using alternative STAT3 inhibitors.”
Alan Horsager, Ph.D., President and Chief Executive
Officer of Olimmune, stated, “Scopus BioPharma is the ideal home
for Olimmune. The combination of immuno-oncology assets creates a
comprehensive portfolio of complementary cell-selective
oligonucleotide therapeutics. Moreover, Scopus’ clinical
development will provide us with invaluable insights, experience
and expertise in bringing our drug candidates into the clinic.”
Olimmune has exclusive, worldwide licenses to
certain patents from City of Hope to develop and commercialize
CpG-STAT3ASO and CpG-STAT3decoy.
Terms of the acquisition have not been
disclosed.
About Scopus BioPharma
Scopus BioPharma Inc. is a clinical-stage
biopharmaceutical company developing transformational therapeutics
capitalizing on groundbreaking scientific and medical discoveries
from leading research and academic institutions. The company’s lead
drug candidate is a novel, targeted immuno-oncology RNA therapy for
the treatment of multiple cancers. This drug candidate is highly
distinctive, encompassing both RNA therapy and immunotherapy by
synthetically linking siRNA to an oligonucleotide TLR9 agonist,
creating the potential for targeted gene silencing with
simultaneous TLR stimulation and immune activation in the tumor
microenvironment. The company is also developing additional new
chemical entities to treat other serious diseases with significant
unmet medical needs, including systemic sclerosis. Receive updates
by following Scopus BioPharma on Twitter here.
Forward-Looking Statements
This press release may include forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks (including those
set forth in the company’s Form 10-K for the fiscal year ended
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actual results to differ from the forward-looking statements. The
company expressly disclaims any obligations or undertaking to
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expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Investors should realize that if our underlying assumptions for the
projections contained herein prove inaccurate or that known or
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vary materially from our expectations and projections.
Contacts
Rodd Leeds/David WaldmanCrescendo Communications,
LLCTel: (212) 671-1020Email: SCPS@crescendo-ir.com
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