Epsilogen, a global leader in the development of immunoglobulin E (IgE) antibodies to treat cancer, announces the completion of a £12.5 million Series B expansion financing bringing the Series B total to £43.25 million. This financing will fund the delivery of clinical Proof of Concept for lead asset MOv18 IgE in a phase Ib trial featuring platinum-resistant ovarian cancer (PROC) as well as further development of the company’s IgE-based pipeline. The financing was entirely conducted by existing investors including British Patient Capital, Novartis Venture Fund, Epidarex Capital, 3B Future Health Fund and ALSA Ventures.
MOv18 IgE is the first therapeutic IgE antibody to enter the clinic. This first-in-class antibody targets folate receptor alpha (FR), an antigen present on a variety of cancers including ovarian, endometrial, lung and triple negative breast cancer. In a phase I trial, MOv18 IgE was found to be safe and well tolerated with initial signs of clinical activity also seen, as reported in Nature Communications. The phase Ib trial is a two-part, dose escalation and expansion trial in patients with FR-positive PROC whose disease has progressed after ≤4 prior regimens of anti-cancer therapy.
MOv18 IgE has a unique mechanism of action differentiating it from other agents currently in the clinic and on the market. Key aspects of this mechanism include high affinity binding to its main cognate receptor, FcεR1, thereby enabling immunosurveillance and potent myeloid cell driven tumour cell killing. Additionally, IgE antibodies drive modulation of the tumour immune microenvironment to become more pro-inflammatory, leading to increased intra-tumoural levels of activated T cells and tumour killing macrophages.
Tim Wilson, CEO of Epsilogen said “We are delighted to have received strong continued support from our existing investors and we thank them. The promise of IgE to treat cancer is based upon its unique mechanism of action and MOv18 IgE is the first ever to be tested in man. Everything is ready for phase Ib initiation which will occur shortly and we look forward to reporting progress from the trial.”