Flamingo Therapeutics and Dynacure Announce Merger to Create Leading RNA Therapeutics Company Focused on Clinical Oncology
-Combined company to be named Flamingo Therapeutics, focused on advancing Flamingo’s asset danvatirsen in a Phase II trial PEMDA-HN in Head & Neck cancer and IND-ready program targeting MALAT-1 (FTX-001), in oncology-
-Merger leverages common synergies of Flamingo and Dynacure, including deep expertise in RNA-targeting and clinical drug development-
Excerpt from the Press Release:
LEUVEN, Belgium, STRASBOURG, France, and PHILADELPHIA, March 2, 2023 /PRNewswire/ — Flamingo Therapeutics (“Flamingo”) and Dynacure, announced today that the companies have signed a definitive merger agreement to combine their pipelines and expertise to create a leading oncology company. The combined company will advance Flamingo’s lead programs: danvatirsen in a Phase II trial PEMDA-HN in Head & Neck cancer (danvatirsen in combination with pembrolizumab) and other indications; and FTX-001 targeting MALAT-1 in cancer (IND ready). In addition, Flamingo’s current investors Kurma Partners (France) and PMV (Belgium) made a further investment in the company.
Danvatirsen is an antisense oligonucleotide (ASO) that selectively targets STAT3 and has shown clinical activity in two Phase II clinical studies. Danvatirsen binds to STAT3 mRNA, inhibiting translation of the transcript. The therapeutic effect of STAT3 suppression results in reduction of tumor cell growth as well as activation of anti-tumor immunity mediated by the tumor micro-environment.
Currently, danvatirsen is planned to continue Phase 2 clinical development for head and neck squamous cell carcinoma to advance the program through key clinical milestones and data readouts.
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