Eilean Therapeutics LLC announced the acquisition of Ness Therapeutics Inc in an all-equity transaction.
DOVER, Del., March 4, 2024 /PRNewswire/ -- Eilean Therapeutics LLC, a biopharmaceutical company dedicated to discovering and developing best-in-class and first-in-class small molecule inhibitors to target resistance mechanisms in hematologic and solid malignancies, today announced the acquisition of Ness Therapeutics Inc (Ness) in an all-equity transaction. Ness is developing best-in-class PTPN2 inhibitors providing an immuno-oncological therapy with an improved safety and tolerability profile.
Protein tyrosine phosphatase non-receptor type 2 (PTPN2), also known as T cell protein tyrosine phosphatase (TC-PTP), is ubiquitously expressed, primarily in hematopoietic and placental cells. As a critical negative regulator of the JAK-STAT pathway, PTPN2 functions to directly regulate signaling through cytokine receptors, including IFNγ. Thus, enhancing IFNγ sensing and signaling through the inhibition of PTPN2 is a potential therapeutic strategy to improve the efficacy of cancer immunotherapy regimens.
Ness’ lead molecules demonstrate sub-nanomolar PTPN2/PTPN1 inhibitory activity and outstanding > 1000-fold selectivity against all other phosphatases, exhibit high oral bioavailability and good safety. In addition, lead inhibitors induce tumor cells’ susceptibility to IFNγ and suppress their growth with a high efficacy.
About Eilean Therapeutics
Eilean Therapeutics LLC is a biopharmaceutical company co-founded by Orbimed, Torrey Pines Investment and Dr John C. Byrd, focused on the discovery and development of best-in-class and first-in-class small molecule inhibitors that target resistance mechanisms in hematologic and solid cancers. The company is utilizing a proprietary hybrid AI platform of Expert Systems accelerator, leveraging its key partners’ proprietary data, chem and bio tools, knowledge and expertise to choose highly valuable molecular mechanism of pathology, to rationally design, accelerate discovery and optimize development of best-in-class and first-in-class therapies. Eilean Therapeutics’ goal is to utilize its capabilities and platform to become a leader in developing novel breakthrough medicines to maximize the clinical benefit when treating hematologic and solid malignancies. For more information visit www.eileanther.com
Media Contact:
Amy Burd
CSO
aburd@eileanther.com
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SOURCE Eilean Therapeutics
