ImmuneOnco axes CD47 bispecific as pipeline prioritization pressures hit Chinese biotech
ImmuneOnco Biopharmaceuticals has terminated development of two clinical programs and abandoned plans to build a manufacturing facility as part of pipeline prioritization efforts1. The company has stopped development of IMM2520, a CD47×PD-L1 bispecific antibody, and IMM47, an anti-CD24 antibody1.
Background
ImmuneOnco raised 319 million Hong Kong dollars ($41 million) in its 2023 IPO to fund a broad pipeline of drug candidates1. The company had allocated a significant portion of the funds for the development and planned launch of IMM2520, which it had designated as a key product1.
Terminated Programs
IMM2520 (CD47×PD-L1 bispecific)
- Designed to simultaneously activate macrophages and T cells1
- Received clearance for human trials in China and the U.S. in late 20221
- A study in China had enrolled 26 solid tumor patients across six dose cohorts by end of 2024, with one partial response observed1
IMM47 (anti-CD24 antibody)
- Entered clinical trials in 20231
- Aimed to suppress immune inhibitory signals from tumor cells to macrophages, natural killer cells and T cells1
Reasons for Termination
ImmuneOnco cited "evolving industry dynamics" and the need to "optimize the use of existing resources" as reasons for terminating these programs1. The company stated it is refocusing and reallocating resources to expedite clinical development of its most promising candidates1.
Broader Context
This move reflects broader pressures on Chinese biotechs to prioritize pipelines1. The biotech sector in China has faced challenges recently, including a financing crunch that has particularly affected investment in startups11.
Remaining Pipeline
ImmuneOnco retains interest in CD47, with a fusion protein and bispecific targeting this "don't eat me" signal still in its pipeline1. The company's core product is now IMM01, a fusion protein designed to activate macrophages by blocking CD47 interaction1. A phase 3 trial of IMM01 in chronic myelomonocytic leukemia began in late 20241.
This pipeline prioritization by ImmuneOnco illustrates the increasing pressure on Chinese biotechs to focus resources on their most promising candidates amid a challenging funding environment.
Sources:
1. https://www.fiercebiotech.com/biotech/immuneonco-axes-cd47-bispecific-pipeline-prioritization-pressures-hit-chinese-biotech
11. https://www.citeline.com/en/resources/growing-pains-of-chinese-biotech