BeiGene Ltd BGNE

SAN DIEGO, Dec. 8, 2022 /PRNewswire/ -- Phanes Therapeutics, Inc. (Phanes), a clinical stage biotech company focused on innovative drug discovery and development in oncology, today announced a clinical supply agreement with BeiGene, Ltd. (NASDAQ: BGNE) to evaluate the safety and efficacy of Phanes' PT199, a differentiated anti-CD73 monoclonal antibody in combination with BeiGene's tislelizumab, an anti-PD-1 monoclonal antibody in the Phase I clinical study  (NCT05431270) for the treatment of multiple advanced solid tumors.

"We are excited about the opportunity to evaluate PT199 in combination with tislelizumab for the treatment of solid tumors," said Dr. Ming Wang, Founder and CEO of Phanes. "PT199 is an anti-CD73 monoclonal antibody with a differentiated mechanism of action to counter the immunosuppressive tumor microenvironment in cancer patients. The combination of PT199 with tislelizumab provides a new opportunity to assess the strategy to enhance antitumor immune response in patients with advanced or metastatic cancer refractory to previous treatments."

The multi-center Phase I clinical trial of PT199 is evaluating the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy of PT199, alone and in combination with tislelizumab, a PD-1 inhibitor, in patients with locally advanced or metastatic solid tumors that have progressed after all available standard therapy or for which standard therapy has proven to be ineffective, intolerable, or is considered inappropriate.

For more information on the study please visit ClinicalTrials.gov (NCT05431270).

About PT199

PT199 is an anti-CD73 monoclonal antibody with a differentiated mechanism of action and is designed to counter the adenosine-mediated immunosuppressive tumor microenvironment (TME). PT199 fully inhibits the enzyme activities of both soluble and membrane-bound CD73, unlike some other anti-CD73 mAbs which exhibit incomplete inhibition. Moreover, at higher concentrations, no loss of inhibition or "hook effect" is observed with PT199. Hence, PT199 addresses the limitations of current CD73 inhibitors and is expected to increase antitumor immune activation, and potentially offer a new treatment option for cancer patients. PT199 is being evaluated in a multi-center Phase I clinical trial in patients with advanced solid tumors.

About Tislelizumab

Tislelizumab is a humanized IgG4 anti-PD-1 monoclonal antibody specifically designed to minimize binding to Fc-gamma (Fcγ) receptors on macrophages, helping to aid the body's immune cells to detect and fight tumors. In pre-clinical studies, binding to Fcγ receptors on macrophages has been shown to compromise the anti-tumor activity of PD-1 antibodies through activation of antibody-dependent macrophage-mediated killing of T effector cells. Tislelizumab is the first investigational medicine from BeiGene's immuno-oncology biologics program and is being evaluated in solid tumor and hematologic malignancies, as monotherapy and in combination.

About Phanes Therapeutics

Phanes Therapeutics, Inc. is a clinical stage biotech company focused on innovative drug discovery and development in oncology. Currently, it has three assets at clinical stage, including its best-in-class monoclonal antibody (mAb) program, PT199, and two first-in-class bispecific antibody programs, PT886 and PT217. Both PT886 and PT217 have been granted orphan drug designation by FDA. Its pipeline also includes humanized mAbs, biparatopics, and single-chain variable fragments (scFvs) against multiple tumor-associated antigens (TAAs) that are suitable for ADC and CAR-T applications, respectively.

The company has built a strong pipeline by leveraging its proprietary technology platforms: PACbody^TM, SPECpair^TM and ATACCbody^TM to develop novel biologics that address high unmet medical needs in cancer. PACbody^TM is a proprietary approach for constructing bispecific antibodies without using protein engineering so that the antibody molecules maintain native structures with superb CMC characteristics, SPECpair^TM allows mAb-like manufacturability of bispecific antibodies with native IgG-like structures, and ATACCbody^TM is a technology for targeting solid tumors using immuno-oncology molecules with modulated activities designed to minimize the risk of cytokine release syndrome.

For more information about Phanes Therapeutics, please visit www.phanesthera.com.

For business development or media inquiries please contact bd@phanestx.com or media@phanestx.com, respectively.

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SOURCE Phanes Therapeutics