ImmunoMet Therapeutics, a private biotechnology company focused on utilizing cellular metabolism to develop novel tumor and cellular metabolism therapies, announces the closing of a Convertible Note Financing for $8.6M USD.  The funding comes from a combination of existing and new investors.  These funds will allow the company to complete its ongoing Phase 1a clinical study of IM156 in solid tumors, and begin preparations for Phase 1b and Phase 2 studies.

About the company’s lead product, IM156

IM156 is an orally administered small molecule from the biguanide class, and it is a potent oxidative phosphorylation (OXPHOS) inhibitor. IM156 is particularly promising in that it has the potential to treat not only drug resistant cancers, but also cancers with molecular signatures of sensitivity to OXPHOS inhibition. Resistant tumor cells are very sensitive to OXPHOS inhibition due to transformation to mitochondrial OXPHOS from glycolysis. IM156 has shown strong in-vitro and in-vivo efficacy in a number of solid cancers, including gastric and glioblastoma (GBM). The company initiated its Phase 1 clinical study for IM156 in September 2017.

About ImmunoMet Therapeutics

ImmunoMet Therapeutics, a private biotechnology company, is dedicated to developing innovative oncology products to improve the quality of life and make a meaningful difference in the lives of cancer patients. The company was founded in 2015 and is headquartered at JLABS in Houston. In addition to its lead program, IM156, ImmunoMet has an extensive biguanide library which is being developed to harness cellular metabolism to address diseases across multiple therapeutic areas. For more information about the company, please visit www.immunomet.com.