Forte Biosciences announces $25M financing and R&D update

Forte Biosciences announced key R&D updates for FB-102 and the closing of financing to support the advancement of FB-102. Forte’s wholly owned antibody, FB-102, targets CD-122, a subunit of the IL-2 and IL-15 receptor and mediates NK and CD8+ T cells, which have been implicated in a variety of autoimmune and immune related diseases. FB-102 has demonstrated potentially best in class activity including in validated models of GvHD with superiority to standard of care both as a single agent and in combination with standard of care. In a validated preclinical model of aggressive acute GvHD using transplanted human donor PBMCs, FB-102 reported 90% survival versus 0% survival on vehicle control and compared to 60% survival on ruxolitinib. In combination with ruxolitinib, the only FDA-approved treatment for acute GvHD, FB-102 reported 90% survival compared to 0% survival on vehicle control and 30% survival for ruxolitinib alone with extended duration of dosing compared to the single agent study. Additionally, in a mouse model of chronic GvHD conducted by Forte, anti-CD-122 treatment has shown superior activity compared to placebo or ruxolitinib. CEO Paul Wagner stated: “FB-102 had demonstrated potentially best in class activity including in graft versus host disease, an indication for which there is a very high unmet medical need and potentially abbreviated clinical development pathway. We plan to advance FB-102 into the clinic in 2024. Beyond GvHD, based on extensive proof of concept data, we believe FB-102 has considerable opportunity in a variety of indications with large markets. Our financing by top-tier institutional investors highlights the meaningful potential for FB-102. We are deeply appreciative of the support from preeminent institutional biotechnology investors including Alger, BVF Partners, Farallon Capital Management, Perceptive Advisors and Tybourne Capital Management.”