April 26, 2021 -- Immunome said that preclinical testing shows that its IMM-BCP-01 antibody cocktail neutralizes SARS-CoV-2 variants of concern.
IMM-BCP-01 contains three monoclonal antibodies that bind to nonoverlapping regions of the spike protein with picomolar affinity and exhibit combinatorial effects in vitro against multiple SARS-CoV-2 variants, according to the company. These include the variants that are demonstrating both increased transmission in the U.S. and resistance to current antibody therapeutics and vaccines, Immunome said.
The firm anticipates it will submit an investigational new drug (IND) application for IMM-BCP-01 to the U.S. Food and Drug Administration for later in its second quarter or early in its third quarter.
In other Immunome news, the vendor has signed a definitive securities purchase agreement for a private placement that will generate gross proceeds of approximately $27 million. Immunome said it will sell an aggregate of one million units for $27 each to certain accredited investors; each unit will consist of one share of common stock and a warrant to purchase one half of a share of common stock at an exercise price of $45.
The private placement is expected to close on or about April 28, subject to customary closing conditions. Immunome said it intends to use the net proceeds to accelerate development of its oncology and infectious disease portfolio, including COVID-19, and for other general corporate purposes.