Pheon Therapeutics

Pheon Therapeutics is an Antibody-Drug Conjugate (ADC) specialist focused on developing a pipeline of monotherapies targeting novel cancer antigens and employing novel linker-payloads. The company's lead program is a first-in-class ADC targeting an undisclosed novel target that is highly overexpressed across a wide range of solid tumors. Pheon takes a methodical approach to ADC development, utilizing both novel and clinically validated monoclonal antibodies armed with payloads from its proprietary platform, which boasts a novel mechanism of action, or off-the-shelf linker-payload combinations. The company aims to balance safety and efficacy for each target through this strategic approach.

Pheon's lead ADC candidate is expected to reach Investigational New Drug (IND) status in 2024, with the company planning to initiate Phase 1 clinical trials and rapidly progress toward dose expansion cohorts. In May 2024, Pheon secured USD 120 million in Series B financing led by TCGX, with participation from new investors BVF Partners, Lightspeed Venture Partners, and Perceptive Advisors, alongside existing investors. This funding will enable the advancement of three first-in-class ADC assets through clinical proof-of-concept.

In July 2023, Pheon entered into an exclusive license agreement with Biocytogen Pharmaceuticals for an oncological target antibody developed using Biocytogen's proprietary RenMice platforms, expanding its ADC pipeline.

The company was launched in September 2022 following the closing of a USD 68 million Series A financing led by Brandon Capital, Forbion, and Atlas Venture, with participation from seed investor Research Corporation Technologies. In September 2022, Pheon was acquired by an undisclosed entity.

Key customers and partnerships

Pheon Therapeutics formed a strategic partnership with Biocytogen Pharmaceuticals in July 2023, securing an exclusive license agreement for an oncological target antibody developed using Biocytogen's proprietary RenMice platforms. The agreement expands Pheon's ADC pipeline and enables the development and commercialization of the licensed antibody.