14 November 2017
Tusk Therapeutics awarded £2.5 million Grant from Innovate UK’s “Biomedical Catalyst Round 2 Late Stage”
Novel CD38 Targeting Cancer Immunotherapy
Grant allows Tusk to accelerate its strongly differentiated anti-CD38 immunotherapy development program for treatment of solid cancers
London and Stevenage, UK – 14 November 2017: Tusk Therapeutics is an immuno-oncology company with a focus on harnessing the power of the immune system to fight cancer through the development of novel immune modulating therapeutics. Tusk today announces it has been awarded a £2.5 million grant from Innovate UK. The grant will be used to accelerate the development of its novel and strongly differentiated anti-CD38 monoclonal antibody as a cancer immunotherapy.
Tusk’s anti-CD38 antibody has the potential to significantly broaden the efficacious utility of monoclonal antibodies targeting the CD38 receptor, extending the current application beyond haematological tumours (e.g. Multiple Myeloma) to solid tumours. Tusk’s antibody’s novel mode of action aims to modulate the tumour microenvironment to allow the body’s immune system to generate a potent anti-tumour response.
The grant will facilitate the completion of preclinical activities for its anti-CD38 antibody program and to conduct a Phase I trial and builds on Tusk’s preclinical research and recent novel insights into CD38 biology.
“We thank Innovate UK for supporting us with this grant which we believe is a great endorsement of the work currently being undertaken at Tusk. This grant will allow us to continue to accelerate the development of our novel CD38 programme. Tusk has established a growing, diversified pipeline of antibodies against a selection of both novel and validated targets that we believe have the potential to complement and improve upon current and emerging immune-oncology therapies. The UK is ideally placed as a hub for life science companies. Access to funding and support from industry bodies, such as Innovate UK, is invaluable for companies at our stage of development and is one of the reasons why Tusk, as a European company, has chosen to base itself in the UK.”
Luc DochezChief Executive Officer of Tusk Therapeutics
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For further information, please contact:
Luc Dochez, Chief Executive Officer
Consilium Strategic Communications
Julia Wilson, Lindsey Neville
+44 (0) 203 709 5708
About Tusk Therapeutics Ltd
Tusk Therapeutics is a privately held immuno-oncology company focused on discovering and developing therapeutic antibodies that harness the power of the immune system to transform the treatment of cancer. The Company has established a diversified pipeline of antibodies against both novel and validated targets that have the potential to address a broad range of solid and haematological cancer indications. The companies two lead programmes, CD38 an immunomodulator with a novel mechanism and CD25 a Treg depleting agent, are in preclinical development. The Company has strategic partnerships and licensing agreements with top research institutes including Cancer Research Technology, Cancer Research UK’s commercial arm and University College London. For further information about Tusk Therapeutics visit: www.tusktherapeutics.com
About Innovate UK - the UK's innovation agency
Innovate UK is the UK's innovation agency. Taking a new idea to market is a challenge. Innovate UK funds, supports and connects innovative businesses through a unique mix of people and programmes to accelerate sustainable economic growth. For further information visit: www.innovateuk.org