Boston, MA— Solu Therapeutics, a Boston-based biotech company focused on developing targeted therapies for cancer and immune diseases, has closed a $41 million Series A funding round and announced the dosing of the first patient in a Phase 1 clinical trial for its lead candidate, STX-0712.
The funding round included new investments from Eli Lilly and Company, Biovision Ventures, Pappas Capital, Hengdian Group Capital, and The Leukemia & Lymphoma Society Therapy Acceleration Program®, alongside existing backers such as Longwood Fund, DCVC Bio, Santé Ventures, Astellas Venture Management, and Alexandria Venture Investments.
The fresh capital will support the ongoing clinical development of STX-0712—a novel therapy designed to target CCR2-positive malignant monocytes in patients with chronic myelomonocytic leukemia (CMML) and other advanced blood cancers. The funds will also be used to expand Solu’s pipeline and explore new uses of its proprietary CyTAC™ and TicTAC™ platforms.
“This milestone marks our rapid progression from seed funding to clinical stage in a short span of time,” said Philip J. Vickers, PhD, President and CEO of Solu Therapeutics. “Our CyTAC and TicTAC platforms allow us to target disease-driving cells with greater precision, offering new hope for patients with few treatment options.”
STX-0712, built using the CyTAC (Cytotoxicity Targeting Chimera) technology, is being evaluated in a two-part, open-label Phase 1 study. The trial aims to assess the drug’s safety and initial antitumor activity in patients with resistant or refractory CMML. Part A will focus on dose escalation, while Part B will explore efficacy and further safety data.
Dr. Sergio Santillana, Solu’s Chief Medical Officer, highlighted the potential impact of STX-0712. “This therapy directly targets and depletes CCR2-positive malignant monocytes, which drive CMML. It represents a highly targeted approach that could significantly benefit patients with limited options.”
Preclinical data presented at the 2024 American Society of Hematology Annual Meeting demonstrated strong activity of STX-0712 against patient-derived CCR2-positive cells, laying the groundwork for its clinical advancement.
With this clinical and financial milestone, Solu Therapeutics aims to broaden its portfolio and accelerate the development of first-in-class therapies targeting hard-to-treat diseases.
