Cybrexa Therapeutics Closes $25 Million Series B Financing

March 10, 2021 7:00 AM EST

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-Proceeds will advance the company’s lead program into clinical trials-

NEW HAVEN, Conn., March 10, 2021 (GLOBE NEWSWIRE) -- Cybrexa Therapeutics, an oncology-focused biotechnology company developing a new class of therapeutics through its alphalex™ Peptide Drug Conjugate (PDC) tumor targeting platform, today announced the completion of its $25 million Series B financing. The financing included HighCape Capital and new investor Elm Street Ventures. Proceeds from the financing will be used to support the planned advancement of Cybrexa’s lead candidate CBX-12 (alphalex™-exatecan) into the clinic. The first patient dosing in the Phase 1 study is expected in the first half of 2021.

“We are pleased that our efforts continue to be recognized and supported by our investors. This funding is a testament to our company's progress, execution and the strength of our alphalex™ platform technology,” said Per Hellsund, President & CEO of Cybrexa. “This round of financing will be deployed to support the planned Phase 1 study for CBX-12.”

CBX-12 is a novel treatment for solid tumors that includes a highly potent topoisomerase I inhibitor payload that is in the same class as the payloads used by antibody-drug conjugates (ADCs) ENHERTU® and TRODELVY™. In contrast to these ADCs, CBX-12 is able to target cancer cells independent of antigen overexpression, which should greatly expand the addressable patient populations. The positive results from the GLP toxicology study of CBX-12 will serve as a guide for the dosing regimen in the planned Phase I trial.

“We believe Cybrexa’s technology and science form the basis for a robust development platform, capable of producing multiple targeted therapeutic options, for a variety of oncology indications,” said Kevin Rakin, Partner of HighCape Capital. “We see the progress of CBX-12 into human trials as a significant milestone for the platform, as well as providing even more opportunities from a business perspective.”

About CBX-12

CBX-12 is a novel treatment for solid tumors that includes a highly potent topoisomerase I inhibitor payload that is in the same class as the payloads used by antibody-drug conjugates (ADCs) ENHERTU® and TRODELVY™. In contrast to these ADCs, CBX-12 is able to target cancer cells independent of antigen overexpression, which should greatly expand the addressable patient populations. Positive results from the GLP toxicology study of CBX-12 will serve as a guide for dosing regimen for the planned Phase I trial of CBX-12, as Cybrexa filed the IND on February 19, 2021. CBX-12 is currently being investigated in collaboration with NCI in pre-clinical safety and efficacy studies in the solid tumor landscape. This partnership will also explore its therapeutic potential to conduct trials in a wide number of indications and in combination with other therapies such as immune-oncology and PARP inhibitors.

About the alphalex™ Technology Platform The Cybrexa alphalex™ technology platform – which consists of a pHLIP® peptide, linker, and small molecule anti-cancer agent (payload) – enables antigen-independent targeting of tumors and intracellular delivery of highly potent anticancer therapies, creating therapeutics that can revolutionize the standard of care. pHLIP® peptides are a family of pH-Low Insertion Peptides that target acidic cell surfaces. pHLIP® was developed at Yale University and the University of Rhode Island, and is exclusively licensed to pHLIP, Inc. alphalex™ represents the disruptive next generation in tumor targeting. View a video of the mechanism of action of the technology at www.cybrexa.com.

About Cybrexa Cybrexa is a privately-held biotechnology company dedicated to developing next-generation tumor-targeted cancer therapies using its alphalex™ platform. The Company’s lead candidate, CBX-12, an alphalex™-exatecan conjugate, is expected to enter Phase I/II in 2021 in advanced solid tumors. Cybrexa also has other preclinical toxin conjugate programs as well as synthetic lethality programs. Cybrexa was founded by physician-scientists and has an experienced management team that has built numerous successful life sciences companies. For more information about Cybrexa, please visit www.cybrexa.com.

Contacts

Cybrexa TherapeuticsLisa RehmEmail: lisa.rehm@cybrexa.com

Investor RelationsStephanie CarringtonTel: 646-277-1282Email: Stephanie.Carrington@westwicke.com

Media RelationsMark CorbaeTel: 203-682-8288Email: Mark.Corbae@westwicke.com

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Source: Cybrexa Therapeutics


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