Tempest closes acquisition of dual-targeting CAR-T assets

Tempest Therapeutics Inc. (NASDAQ: TPST) completed its acquisition of dual-targeting chimeric antigen receptor T-cell programs from Factor Bioscience Inc. and its affiliates in an all-stock transaction. The deal closed following stockholder approval at the company's annual meeting on January 27.

The acquisition brings Tempest a portfolio of CAR-T assets, including TPST-2003, a clinical-stage dual-targeting CD19/BCMA CAR-T therapy. The company's strategic partner plans to fund a biologics license application filing in China for 2027.

Matt Angel joined Tempest as President and CEO following the transaction's completion. "I am excited to join the Tempest team and to have the opportunity to develop this innovative pipeline of potential therapies to treat a range of solid tumors and hematologic malignancies," Angel said.

The combined company's pipeline includes Amezalpat (TPST-1120), which remains Phase 3 ready in first-line liver cancer. TPST-2003 has completed Phase 1 studies in patients with relapsed/refractory multiple myeloma, with data expected in 2026. A Phase 1 study is currently enrolling patients with POEMS syndrome, with data expected in 2027.

Tempest holds global rights to TPST-2003 outside of China, India, Turkey and Russia. The company plans to pursue a registrational study in relapsed/refractory multiple myeloma in the United States starting in 2027. Development activities in China will be funded by the strategic partner.

The company expects to begin a Phase 2 study of TPST-1495 in familial adenomatous polyposis in the first quarter of 2026, funded by the National Cancer Institute. The existing cash position and investment commitment from Factor extends the operational runway to mid-2027.

You May Also Be Interested In

• Roots Corporation to go private in C$4.10-per-share deal with Marquee Brands
• ICE raises $3.71 billion in senior notes to fund MarketAxess deal
• Virtus Investment Partners names Jack Boyce to its board