Adaptam Therapeutics, a pioneering bio-technology firm located in San Sebastian, has successfully completed a pre-Seed funding round, securing €3 million to advance its research focused on cancer immunotherapies. This financing, which has been led by Criteria Bio Ventures, is aimed at refining Adaptam’s innovative programs and preparing for preclinical trials across various oncology indications. The recent funding marks a significant milestone for the company, which was established in 2023 as a spin-off from CIC bioGUNE, a prominent research center in Bilbao, Spain.
Investment and Strategic Growth
In addition to the financial backing, the funding round has also brought two experienced individuals, Dr. Salvatore Cappadona and Dr. Pablo Cironi, from Criteria Bio Ventures, onto Adaptam’s board of directors. Dr. Asis Palazon, the founder, CEO, and CSO of Adaptam, expressed that the company’s objective is to tackle the challenges posed by immunosuppressive myeloid cells found in tumors. He noted that these cells significantly hinder the effectiveness of immunotherapy, and Adaptam aims to offer novel solutions that could provide new hope for patients who do not respond to current treatments.
The recent funding places Adaptam among other notable European biotech initiatives that have recently secured capital for cancer-related projects. For instance, Exeliom Biosciences in France raised €2.85 million to expedite its immunotherapy research, while Lithea AB from Sweden obtained €851,000 for its tumor-targeted therapies aimed at childhood bone cancer. Meanwhile, Trogenix in the United Kingdom raised €80 million in a Series A round to enhance the development of curative cancer treatments, underscoring a strong confidence among investors in European oncology innovation.
Innovative Approach to Cancer Treatment
Adaptam’s approach is distinctively centered on targeting the immunosuppressive tumor microenvironment (TME), which is crucial in solid tumors. The company is particularly focused on the glyco-immune checkpoints that are expressed in myeloid cells, including tumor-associated macrophages (TAMs). By developing antibody-drug conjugates (ADCs) and bispecific antibodies, Adaptam hopes to create more effective treatment options that could potentially overcome the barriers imposed by the TME.
Dr. Palazon indicated that the support from Criteria Bio Ventures is pivotal for advancing their mission and highlighted plans for future funding rounds to support their Investigational New Drug (IND)-enabling studies. Dr. Cironi, chairman of the Adaptam board, mentioned that the scientific advancements achieved by Dr. Palazon and his team lay a robust foundation for potentially transformative therapies that could address significant gaps in current cancer treatment options.
Future Outlook
The ongoing challenges in cancer treatment underscore the importance of Adaptam’s work, particularly in light of the significant number of patients who either do not respond to existing therapies or develop resistance over time. The immunosuppressive qualities of the TME, driven largely by myeloid cells, pose formidable obstacles to effective cancer therapies. Adaptam’s commitment to exploring novel approaches at the intersection of myeloid-mediated immunosuppression and glycobiology positions it to contribute uniquely to the field of cancer immunotherapy.
As the company gears up for its next stages of development, the backing from Criteria Bio Ventures is expected to play a crucial role in enabling Adaptam to fulfill its vision of delivering innovative treatment choices for patients battling solid tumors. The biotechnology sector is keenly watching Adaptam’s progress as it navigates the challenges of cancer treatment with its groundbreaking research and development initiatives.
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