ImmunoMet Therapeutics, a clinical stage biotechnology company targeting cellular metabolism to develop novel anti-tumor and anti-fibrotic therapies, today announced that it has closed a Series C financing.

“This financing funds ImmunoMet’s ongoing Phase 1b/2a trial at MD Anderson in pancreatic cancer as well as other corporate goals.  IM156 is the first potent Protein Complex 1 inhibitor to complete Phase 1 studies with good tolerability and a recommended Phase 2 Dose.  We are optimistic that the inhibition of the Oxidative Phosphorylation pathway will prove efficacious in this and other cancers”. said Dean Welsch, ImmunoMet Chief Scientific Officer & Interim CEO.

IM156, a novel potent oral biguanide, is a protein complex 1 (PC1) inhibitor that targets the OXPHOS pathway in mitochondria.  Preclinical experiments demonstrated that IM156 can be effective in multiple cancers. In a completed Phase 1 study, IM156 was well-tolerated in solid tumors patients and healthy volunteers. IM156 also blocks metabolic reprogramming in fibroblasts and preclinical studies has been shown to be effective in lung, peritoneal, liver and kidney fibrosis models.

About ImmunoMet Therapeutics
ImmunoMet is a clinical stage biotech targeting cellular metabolism to develop novel anti-tumor and anti-fibrotic therapies. Our lead molecule, IM156, is a protein complex 1 (PC1) inhibitor which demonstrated impressive in-vivo efficacy in resistant solid tumors. IM156 is the first potent PC1 inhibitor to complete Phase 1 with a good safety profile. The company was founded in 2015, is headquartered in the Houston JLABS@TMC near MD Anderson, and has raised $39M to date. For more information about the company, please visit www.immunomet.com.

Company Contact:
Dean Welsch, PhD
Chief Scientific Officer and Interim CEO of ImmunoMet
dwelsch@immunomet.com