CellCentric, a clinical-stage biotechnology company developing inobrodib (a first in class oral cancer drug to treat specific cancers, notably multiple myeloma) announced the completion of a $120 million Series C funding round. The funding was co-led by RA Capital Management and new investor Forbion, with participation from Avego Bioscience Capital, and BrightEdge, the American Cancer Society’s venture capital and impact investment arm.
Value propsition: Despite significant recent progress in treating multiple myeloma, the majority of patients still succumb to the disease. As a large number of patients are not eligible for, or become resistant to, the latest therapies. Inobrodib’s truly novel mechanism of action, oral delivery, and favorable safety profile make it an attractive additional option. It has the potential to become an agent used across multiple settings, with different combination agents.
What the funding will be used for: The funding will further support the advancement of CellCentric’s novel oral p300/CBP inhibitor, inobrodib, for the treatment of multiple myeloma. And a phase IIa dose optimisation clinical study is ongoing with an all-oral triplet of inobrodib combined with pomalidomide and dexamethasone. The proceeds from the Series C funding round will be used to support:
— Initiation of a Phase II/III study in heavily pretreated multiple myeloma patients, with the potential to support an accelerated approval.
— Support development activities for a Phase III program, to start mid-2026.
— Initiation of trials starting Q2 2025, including the combination of inobrodib with bi-specific antibodies, as well as inobrodib in a maintenance setting.
Momentum: In 2023, the FDA granted Fast Track and orphan drug designation to inobrodib to treat relapsed or refractory multiple myeloma. And last year, CellCentric released promising efficacy and safety data at the American Society of Hematology (ASH) Annual Meeting.
The company has also achieved several significant milestones, including an initial $35 million investment from RA Capital last year as well as a $25 million strategic investment from Pfizer. This month, a new CellCentric office opened in Burlington MA, just outside Boston, as the company builds its team globally.
KEY QUOTES:
”We are delighted to secure the investment required to continue to advance inobrodib fully and as effectively as possible. This is a significant raise in a challenging market. Today’s announcement is a testament to the data we have in hand, the clear clinical and commercial opportunity inobrodib represents, and the strength of our expanded team.”
Will West, CEO of CellCentric
“CellCentric has developed an innovative and impactful therapy for multiple myeloma with inobrodib, a first-in-class oral p300/CBP inhibitor. This novel agent has demonstrated promising efficacy and a manageable safety profile in early clinical trials. We are enthusiastic about supporting CellCentric as it advances inobrodib into registration studies, aiming to transform multiple myeloma treatment across various stages of the disease.”
Jasper Bos, General Partner at Forbion, who is joining the CellCentric Board
