PAQ Therapeutics announced it has closed a Series B extension, bringing its total Series B financing to $77 million, strengthening its balance sheet as it advances multiple clinical programs for KRAS-driven cancers.
The company also announced it has dosed the first patient in a Phase 1 clinical trial of PT0511, a pan-KRAS degrader designed to target multiple oncogenic KRAS variants. The first-in-human study is an open-label, dose-escalation trial evaluating safety, tolerability, pharmacokinetics, and preliminary anti-tumor activity in patients with advanced solid tumors harboring KRAS alterations.
Proceeds from the financing will support ongoing Phase 1 development of PT0253, PAQ’s KRAS G12D degrader, as well as the continued clinical advancement of PT0511. PAQ said its approach leverages targeted protein degradation to drive deep, selective suppression of oncogenic signaling while maintaining favorable safety and combinability profiles.
KEY QUOTES
“Completing this Series B extension and dosing the first patient in our PT0511 Phase 1 study represent important milestones for PAQ. Together, these achievements highlight our continued execution against a multi-program clinical strategy and our focus on addressing significant unmet need across KRAS-driven cancers.”
Nan Ji, PhD, Chief Executive Officer, PAQ Therapeutics
“The initiation of clinical dosing with PT0511 expands our clinical portfolio beyond single-mutation KRAS targeting. A pan-KRAS degradation approach has the potential to address key limitations for patients observed with existing KRAS- or pan-RAS inhibitor therapies.”
Andrew Krivoshik, MD, PhD, Chief Medical Officer, PAQ Therapeutics
