The series C financing will be used to further test the anti-CD47 antibody, AO-176, in myeloma and in solid tumors.
Currently, Arch is testing AO-176 in patients with multiple myeloma, and in patients with “select solid tumors” both as a monotherapy and in combination with chemotherapy drug paclitaxel. The company also has plans to test AO-176 alongside anti-PD-1 therapy Keytruda in solid tumors, and in combination with standard therapies for multiple myeloma.
Arch hope that the unique features of AO-176 will position it to improve on the safety and efficacy of existing anti-CD47 antibody therapies, with benefits including lower binding to normal cells, enhanced binding to CD47, and induction of programmed and immunogenic cell death.
Looking beyond solid tumors and myeloma, Laurence Blumberg, President and Chief Executive Officer of Arch Oncology, said in a statement: “We will also explore other indications and combinations consistent with our novel mechanisms of action.”