The primary focus of the funding will be to advance TGW101, Tagworks' leading click-cleavable ADC (Antibody-Drug Conjugate) programme, as well as the development of their proprietary Click-to-Release platform
Tagworks Pharmaceuticals secures $65m in Series A financing. (Credit: NikolayF.com from Pixabay)
Tagworks Pharmaceuticals has secured a Series A financing round of $65m, with Ysios Capital and Gilde Healthcare leading the investment.
Notable participants in the funding round include Novartis Venture Fund, New Enterprise Associates (NEA), and Lightstone Ventures.
They have joined existing investors Meneldor and Oost NL. As part of this financing, several distinguished individuals have joined Tagworks Pharmaceuticals’ Board of Directors: Thomas Harth from Ysios Capital, Edwin de Graaf from Gilde Healthcare, Marianne Uteng, PhD from Novartis Venture Fund, Michele Park, PhD from NEA, and Christina Isacson, PhD from Lightstone Ventures.
The primary focus of the funding will be to advance TGW101, Tagworks’ leading click-cleavable ADC (Antibody-Drug Conjugate) programme, as well as the development of their proprietary Click-to-Release platform.
Tagworks’ platform revolutionises drug release by utilizing an in vivo click reaction triggered by a specific molecule. This unique approach expands the applicability of ADCs to non-internalizing targets, offering a significant bystander effect for tumour eradication, particularly in cases of heterogeneous target expression. Additionally, the platform enables the precise activation of immunomodulators and the deactivation of radiopharmaceuticals, thereby enhancing their safety and therapeutic efficacy.
Tagworks co-founder and CEO Marc Robillard spearheaded the in vivo chemistry research at Philips Healthcare, which ultimately led to the establishment of Tagworks as an independent entity. Since then, the company has further refined the click-to-release approach and explored various therapeutic applications utilising in vivo click-mediated mechanisms.
He commented: “Our Click-to-Release approach is poised to change the standard of care for patients with solid tumours. The limitation of today’s conventional ADCs is that they rely on suitable internalizing targets, which are not necessarily expressed by every cancer type and cancer cell.
“Our ADC therapy, however, does not depend on internalizing targets as it is based on chemically controlled release of the payload in the tumour microenvironment, thereby killing heterogenous tumours where not every cancer cell expresses the target.
“Accordingly, Tagworks has the potential to enhance efficacy in a safe manner through controlled payload release, and so, boost the therapeutic index. Importantly, our unique approach to targeting non-internalizing receptors also offers the opportunity to address a whole new cancer target landscape.
“This financing is an important step in unlocking the wide range of potential applications for Click-to-Release technology, to treat cancer types not addressed by current therapies.”
Tagworks Pharmaceuticals is primarily dedicated to advancing its lead program, TGW101, which is a click-cleavable ADC designed to target tumour-associated glycoprotein 72 (TAG72). TAG72 is a clinically validated non-internalizing target that exhibits widespread expression in solid tumours. TGW101 is specifically engineered to achieve targeted and controlled drug release and activation within the tumour microenvironment. This innovative approach aims to address the challenge of treating tumours with heterogeneous target expression, which poses difficulties for existing therapies. By facilitating the killing of such tumours, TGW101 holds significant promise in improving patient outcomes. The funding obtained will be utilized to support Tagworks in reaching the initial clinical proof-of-concept stage for TGW101, as well as advancing the company’s broader pipeline, which primarily focuses on oncology research and development.
Tagworks possesses an extensive intellectual property portfolio related to in vivo Click-Conjugation and Click-to-Release technology. The company is leveraging this intellectual property to expand the range of targets for ADCs. Alongside TGW101, Tagworks’ pipeline includes ongoing discovery phase programs involving ADCs and radiopharmaceuticals. Notably, Tagworks’ technology is versatile, accommodating various types of molecules such as small molecules, peptides, antibodies, and antibody fragments. Furthermore, it encompasses a wide array of toxin and immunomodulator classes, enhancing the company’s capabilities in drug development and therapeutic innovation.
Tagworks’ chairman of the board Chris Martin said: “I am very pleased to join the Tagworks Board as Chair, and to support and guide the team in working to rapidly move their lead ADC program into clinical development. ADCs have long held great promise as powerful, highly targeted cancer therapies, and Tagworks’ platform represents an opportunity to expand both the therapeutic index and reach of these therapies to additional tumour types, and to make a truly transformative impact on cancer patients not served by existing therapies.”
Ysios Capital principal Thomas Harth said: “We are proud to have assembled such a strong, international syndicate of investors around Tagworks. Click-to-Release shows tremendous potential to bring forward a new generation of biologic therapeutics with higher efficacy and improved safety that could be very meaningful for patients. We look for companies with truly differentiated approaches, and thus we are delighted to support Tagworks in its next phase of development.”
Gilde Healthcare managing partner Edwin de Graaf said: “Tagworks’ cutting-edge technology platform is very promising for the development of first and best-in-class therapeutics, such as ADCs, immunomodulators and radiopharmaceuticals. The ability to enable on-target activation or off-target deactivation is a potentially game-changing opportunity in the field of drug development. We look forward to working closely with this top-tier team as it advances powerful new treatments for cancer and other diseases.”