BRIEF—$49 million raised by neoantigen specialist Grey Wolf

Oxford, UK-headquartered oncology start-up Grey Wolf Therapeutics has raised $49 million in a series B financing led by Pfizer Ventures and Earlybird Venture Capital.

Grey Wolf is focused on developing targeted cancer neoantigen therapies which are capable of overcoming key resistance mechanisms and generating a novel anti-tumor immune response.

The money will be used for clinical development, including taking lead asset RWD5769 into a Phase I/II trial in the first half of 2023.

The firm is planning a combination trial with the checkpoint blocker Libtayo (cemiplimab), evaluating the potential of the asset in a range of solid tumor types.

Grey Wolf will also use some of the proceeds to invest in follow-on programs, including efforts focused on ERAP2 inhibition.

The UK and Australia-based firm will also appoint new board members, including Rabab Nasrallah of Earlybird Venture Capital and Marie-Claire Peakman of Pfizer Ventures.