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Mural Oncology wants to paint a new picture in IL-2 after Alkermes spinout

2023-11-15

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Alkermes announced the plan to separate into two a year ago, with a spinout taking on the oncology work and the legacy company continuing in neuroscience.

Alkermescology, Alkermes’ cancer spinoff, has officially landed with $275 million in funding and a mission to develop an interleukin-2 (IL-2) candidate for solid tumors.

Mural OncologyncAlkermeslacancereparate into two a year ago, with a spinout taking on the oncology work and the legacy cointerleukin-2 (IL-2)neuroscience.solid tumors

Alkermesspinout is centered around nemvaleukin alfa, which is going through two potentially registrational trials with readouts expected in the first quarter of 2025, according to a Wednesday press release. The therapy is an engineered IL-2 cytokine that Mural hopes will expand the therapeutic benefits of high-dose recombinant human IL-2 agents, which are commonly used for several types of solid tumors, without the usual toxicities.

Nemvaleukin is being tested in muconemvaleukin alfane and in platinum-resistant ovarian cancer in combination with Merck & Co.’s Keytruda. The spinout also has a handful of discovery-stage programs in IL-18 and IL-12 for proinflammatoryIL-2 cytokine IL-2 agents solid tumors

Nemvaleukinsults for both nemvamucosal melanomae expected in platinum-resistant ovarian canceralso intends to declaMerck & Co.oduKeytrudadates from the discovery-stage programs in 2024.IL-18 IL-12

Leading the new company isnemvaleukinoew, Ph.D., who previously held the top role at GlyMuralBio and before that served as head of R&D strategy and planning at Bristol Myers Squibb. Vicki Goodman, M.D., will fill the role of chief medical officer. She was previously executive vice president, product development and medical affairs, and chief medical officer at Exelixis.

Detailed financial terms were not provided, but Mural will have the $275 million in cGlympse Bionding, which is projected to provide a cash runway into the firsBristol Myers Squibb Exelixis

Meanwhile, Alkermes has continued with commerciaMuralg schizophrenia and bipolar disorder drug Lybalvi.

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