immunotherapy
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The Cancer Drug Isn’t Broken. Navrogen Thinks the Tumor Is Blocking the Signal
A tiny Pennsylvania biotech is betting that some antibody therapies fail for a surprisingly fixable reason: tumors throw molecular sand in the gears. Its answer is to redesign the antibody - or remove the sand.
Merck
KEYTRUDA made Merck an oncology powerhouse. Now the 135-year-old drugmaker is spending, partnering and inventing its way toward a future that cannot depend on one medicine.
Arcellx
Arcellx rebuilt a crucial part of CAR-T therapy with a compact synthetic binder. Its lead treatment is now under FDA review - and the company behind it has become part of Gilead's Kite.
Baseimmune
Baseimmune is a London-based biotech that uses a proprietary deep-learning platform to design synthetic antigens - the active ingredients in vaccines and immunotherapies. Founded in 2019 by three researchers who met at Oxford's Jenner Institute, the company originally built AI-designed 'future-proof' vaccine candidates against fast-mutating pathogens such as coronavirus, malaria and African swine fever. In 2026 it extended its computational antigen-design platform beyond infectious disease into chronic conditions, with a lead program targeting idiopathic pulmonary fibrosis. Baseimmune closed an $11.3M (about GBP 9M) Series A in February 2024 led by MSD Global Health Innovation Fund and IQ Capital.
CREATE Medicines
CREATE Medicines is a Cambridge, Massachusetts clinical-stage biotech building in vivo immune programming - therapies that use an mRNA-lipid nanoparticle platform to turn a patient's own T cells, NK cells, and myeloid cells into chimeric antigen receptor (CAR) cells directly inside the body, rather than extracting and re-engineering them in a lab. Formerly Myeloid Therapeutics, the company rebranded in October 2025 as its pipeline expanded beyond myeloid cells and cancer into autoimmune disease and fibrosis. Its repeat-dosable, off-the-shelf approach aims to make CAR therapy cheaper and more scalable than conventional cell therapy, and the company says it has dosed more than 50 patients - among the largest clinical datasets for in vivo CAR to date.
HERVolution Therapeutics
HERVolution Therapeutics is a Copenhagen-based biotechnology company developing immunotherapies that target human endogenous retroviruses (HERVs) - dormant remnants of ancient viruses embedded in human DNA that can reactivate with age and disease. Formerly named InProTher, the company has engineered a proprietary platform that redesigns these 'dark genome' antigens to break immune tolerance, making them visible to the immune system for the first time. Its off-the-shelf vector-based pipeline, led by IPT-001, aims to treat cancer, metabolic disease, and other diseases of aging.
Illimis Therapeutics
Illimis Therapeutics is a Seoul-based biotechnology company developing protein-based medicines for central nervous system and immune diseases. Its proprietary GAIA (Gas6-mediated Anti-Inflammatory Adaptor) platform builds bispecific fusion proteins that engage the body's TAM receptors to clear misfolded proteins such as amyloid-beta through phagocytosis without triggering the inflammation and ARIA side effects associated with existing antibody drugs. Founded in 2021, the company raised a $42 million Series B in July 2025 and is advancing a lead Alzheimer's candidate, ILM01, toward an IND by the end of 2027.
Leucid Bio
Leucid Bio is a clinical-stage London biotech developing next-generation CAR-T cell therapies for refractory solid tumors. Spun out of King's College London in 2014 to commercialize two decades of research by Dr John Maher, the company's proprietary Lateral CAR platform redesigns the CAR receptor so its signalling domains sit laterally alongside the cell membrane - mimicking natural immune receptors to boost potency while reducing toxicity. Its lead candidate, LEU011, is an autologous NKG2D-targeting CAR-T therapy now in the Phase I/IIa AERIAL trial for refractory solid tumors.
Mirror Biologics, Inc.
Mirror Biologics is a clinical-stage, international biopharmaceutical company developing an 'off-the-shelf' class of immunotherapy built on living, non-genetically-manipulated immune cells. Its patented Mirror Effect platform - protected by more than 200 issued patents - powers a pipeline led by AlloStim for cancer, AlloPrime as a universal anti-viral vaccine for the elderly, and StimVax as a neoantigen vaccine. Headquartered in Tampa, Florida with GMP manufacturing in Jerusalem and clinical operations across Thailand and Malaysia, the company is advancing AlloStim into late-stage trials, including a Phase II metastatic colorectal cancer study run in collaboration with Merck KGaA.
NextRNA Therapeutics
NextRNA Therapeutics was a Boston-based biotechnology company pioneering small-molecule drugs that target long non-coding RNAs (lncRNAs) - a vast, largely undrugged region of the genome that regulates gene expression. Built on the science of Dana-Farber's Carl Novina and led by co-founder and CEO Dominique Verhelle, the company developed a proprietary discovery engine to map disease-relevant lncRNA-protein interactions and drug them with selective small molecules across oncology and immunology. NextRNA raised roughly $56 million in seed and Series A financing and signed a collaboration with Bayer worth up to $547 million before winding down operations in August 2025 amid a difficult biotech market and a missed partnership milestone.
Resonant Sensors Incorporated
Resonant Sensors Incorporated (RSI) is an Arlington, Texas biotechnology company that builds label-free optical biosensor systems based on its patented guided-mode resonance (GMR) technology. Its ResoSens Ultra-Mab Pro benchtop plate reader and disposable Bionetic microarray plates let researchers watch molecular binding interactions in real time, in a standard 96-well format, using tiny sample volumes and no fluorescent labels. RSI targets antibody discovery, epitope binning, hybridoma screening, kinetics and cell-based assays for immunotherapy, diagnostics and life-science research, and also offers analytical contract testing services.
Eureka Therapeutics, Inc.
Eureka Therapeutics is a clinical-stage biopharmaceutical company in Emeryville, California, developing next-generation T-cell therapies for cancer, with a focus on hard-to-treat solid tumors. Founded in 2006 by Dr. Cheng Liu, the company pairs its E-ALPHA phage-display antibody engine with its ARTEMIS T-cell receptor platform - an alternative to conventional CAR-T designed to keep engineered T cells potent inside immunosuppressive tumors while sharply reducing the inflammatory cytokine release linked to CAR-T toxicity. Its lead program, ECT204, targets GPC3-positive advanced liver cancer and has received FDA RMAT designation.
Apeximmune Therapeutics
Apeximmune Therapeutics is a South San Francisco / Burlingame-area biotechnology company developing next-generation antibody therapeutics that harness the immune system to treat cancer and autoimmune disease. Using a proprietary target-discovery platform built on bioinformatic analysis of thousands of tumor RNA-seq transcriptomes, the company has identified more than 30 novel immune targets. Its lead program, AI-306, is a first-in-class antagonist antibody against the novel immune checkpoint AIM-103, and its MEBA platform builds bispecific antibodies that engage macrophages to kill tumor cells. The company closed a $21.3 million Series A in 2025 led by PharmaEssentia.
Lyvgen Biopharma
Lyvgen Biopharma is a Shanghai-based clinical-stage immuno-oncology company founded in 2016 by veteran oncology scientist Dr. Jieyi Wang. It builds agonist antibodies - drugs that switch the immune system on rather than release its brakes - using a proprietary xLinkAb platform designed to concentrate immune activation inside tumors while limiting toxicity elsewhere. Its lead program, the CD137/4-1BB agonist antibody LVGN6051 (exlinkibart), is in Phase Ib/II trials in the US and China, including combinations with Merck's Keytruda, alongside a CD40 agonist (LVGN7409), a PD-1 blocker (LVGN3616), and bispecific candidates. Backed by IDG Capital and others through a Series C, Lyvgen runs R&D in Shanghai, a CMC/manufacturing center in Suzhou, and clinical and business development teams spanning China and the US.
Therini Bio, Inc.
Therini Bio is a clinical-stage biotechnology company developing fibrin-targeting immunotherapies for neurodegenerative and retinal diseases driven by vascular dysfunction. Founded in 2019 on the neurovascular research of Dr. Katerina Akassoglou at UCSF and the Gladstone Institutes, the company's lead antibody THN391 selectively blocks fibrin's inflammatory epitope to halt chronic neuroinflammation without interfering with normal blood clotting. Backed by roughly $145M in total funding from investors including Eli Lilly, Sanofi Ventures, Merck's MRL Ventures and the Dementia Discovery Fund, Therini is advancing THN391 into Phase 1b trials for Alzheimer's disease and diabetic macular edema.
Ability Biotherapeutics
Ability Biotherapeutics (also known as Ability Biologics) is a Montreal-based biotech founded in 2023 that engineers highly selective, immune-cell-modulating antibody therapeutics for cancer and autoimmune disease. Its AbiLeap discovery engine pairs continuously learning AI with one of the largest antibody-antigen interaction databases ever assembled to generate fully human, IgG-based multispecific antibodies that sense their environment and act only where intended - so-called logic-gated therapeutics. Backed by US$18M in seed capital led by Amplitude Ventures, the company is advancing a pipeline of immuno-oncology and autoimmune candidates toward preclinical readiness.
Shennon Biotechnologies
Shennon Biotechnologies is a San Francisco biotech turning immune-cell target discovery from a months-long slog into a same-day job. Its proprietary TCELERATOR platform fuses ultra-high-throughput microfluidics with AI to functionally profile millions of single immune cells in hours, pinpointing the rare T and B cells that recognize cancer antigens. Founded in 2021 by physicist-turned-founder Li Sun, the company is building a pipeline of validated targets for solid tumors and autoimmune disease, backed by a $13M seed round led by DCVC.
Bitterroot Bio
Bitterroot Bio is a Palo Alto, California clinical-stage biotechnology company pioneering the field of cardio-immunology - the science of how the immune system drives heart disease. Founded by veterans of Forty Seven (the CD47 company Gilead bought for ~$5 billion), Bitterroot is turning the immune-checkpoint playbook from cancer toward atherosclerosis. Its lead candidate, BRB-002, is an immunomodulating protein that blocks the CD47 'don't eat me' signal on arterial plaque, prompting macrophages to clear inflammation and stabilize plaque - a mechanism that works differently from cholesterol-lowering drugs. The company launched out of stealth in June 2023 with a $145 million Series A, which it called the largest-ever round for a preclinical cardiovascular biotech.
Pheast Therapeutics
Pheast Therapeutics is a clinical-stage biotech engineering the innate immune system to attack cancer. Its lead drug, PHST001, is an anti-CD24 macrophage checkpoint inhibitor designed to flip the 'don't eat me' signal that solid tumors use to hide from the body's first-line defenders.
Abcuro, Inc.
Abcuro is a clinical-stage biotechnology company in Newton, Massachusetts developing first-in-class immunotherapies that selectively deplete highly cytotoxic T cells implicated in autoimmune tissue damage and certain cancers. Its lead program, ulviprubart (ABC008), is a monoclonal antibody targeting the KLRG1 receptor, advanced primarily for inclusion body myositis (IBM) - a progressive muscle-wasting disease with no approved treatments - alongside pipeline work in T-cell large granular lymphocytic leukemia and T/NK-cell lymphomas.
Arsenal Biosciences, Inc.
Arsenal Biosciences (ArsenalBio) is a clinical-stage, programmable cell therapy company in South San Francisco engineering CAR-T cell therapies for solid tumors. By combining CRISPR genome engineering, synthetic biology, high-throughput target discovery and machine learning, it builds 'integrated circuit T cells' that carry logic gates and multiple drug functions to attack tumors while sparing healthy tissue. Founded in 2019 by surgeon-executive Ken Drazan with leading academic immunologists, the company has raised roughly $850M total, including an oversubscribed $325M Series C in 2024 backed by ARCH, NVIDIA's NVentures, Regeneron Ventures and Bristol Myers Squibb.
HanchorBio Inc. 漢康生技股份有限公司
HanchorBio is a clinical-stage biotechnology company building next-generation cancer and autoimmune therapies on its proprietary Fc-Based Designer Biologics (FBDB) platform. Founded in 2020 by Henlius co-founder Scott Liu, the company engineers multi-target Fc fusion proteins designed to reach tumors that resist conventional PD-1/PD-L1 checkpoint drugs. Its lead candidate, HCB101, is an affinity-optimized SIRPalpha-Fc fusion protein targeting the CD47-SIRPalpha 'don't eat me' pathway, engineered to spare red blood cells and avoid the anemia that sank earlier anti-CD47 programs. With operations spanning Taipei, Shanghai, and the San Francisco Bay Area, HanchorBio is advancing a pipeline across solid and hematologic cancers and autoimmune disease.
HelixNano
HelixNano is a Cambridge/Boston-based biotechnology company building what it calls the world's most advanced mRNA platform - combining synthetic biology and machine learning to make vaccines and therapies that augment the immune system. Founded in 2014 by sci-fi novelist and mathematician Hannu Rajaniemi and synthetic biologist Nikolai Eroshenko, the Y Combinator-backed startup has pursued variant-resistant COVID-19 vaccine candidates and machine-learning-designed personalized cancer vaccines built on 'precision neoantigens'.
HotSpot Therapeutics, Inc.
HotSpot Therapeutics is a Boston-based clinical-stage biopharmaceutical company pioneering a new class of allosteric medicines. Using its proprietary Smart Allostery and SpotFinder platforms, the company systematically identifies 'natural hotspots' - regulatory allosteric pockets the body uses to switch proteins on and off - to drug targets long considered undruggable. Its small-molecule pipeline spans oncology (CBL-B, CBM signalosome/KRAS) and autoimmune disease (IRF5), with its lead CBL-B inhibitor HST-1011 in Phase 1/2 clinical trials.
Kira Biotech Pty Ltd
Kira Biotech is a Brisbane-based clinical-stage immunology company developing first-in-class antibody therapeutics that retrain the immune system instead of broadly suppressing it. Its lead candidate, KB312, selectively depletes activated immune cells to restore immune tolerance, aiming to treat difficult autoimmune and inflammatory conditions such as rheumatoid arthritis, lupus, type 1 diabetes, and graft-versus-host disease. Built on decades of dendritic-cell research from Australian institutes and led by US rheumatologist Dr Dan Baker, the company launched with a A$20 million Series A in 2019 led by OneVentures and IP Group.
Larkspur Biosciences
Larkspur Biosciences is a Cambridge, Massachusetts precision-oncology company building first-in-class small molecule protein degraders that attack cancer cells where they are most vulnerable. Using its machine-learning-enabled LarkX platform to pinpoint 'cancer cell fitness' genes, Larkspur designs drugs that trigger tumor-intrinsic cell death and disrupt how cancers hide from the immune system. Its lead candidate, LRK-4189, degrades the lipid kinase PIP4K2C and entered first-in-human Phase 1 testing in December 2025 for microsatellite stable colorectal cancer.
OncoC4, Inc.
OncoC4, Inc. is a Rockville, Maryland clinical-stage biopharmaceutical company building first-in-class and best-in-class antibody therapies for hard-to-treat cancers and Alzheimer's disease. Founded by immunologists Yang Liu and Pan Zheng, the company discovered the innate immune checkpoint CD24-Siglec-10 and is advancing a pipeline led by gotistobart (ONC-392), a next-generation anti-CTLA-4 antibody partnered with BioNTech, alongside SIGLEC10, PD-1/VEGF, and CD24-targeting programs.
Outpace Bio
Outpace Bio is a Seattle biotech using AI-powered de novo protein design to program immune cells - especially CAR T cells - that can recognize and destroy solid tumors while limiting harmful side effects. Spun out of Lyell Immunopharma in 2021 by Institute for Protein Design alumni, the company has raised roughly $199M and is advancing its lead candidate, OPB-101, a mesothelin-targeted CAR T therapy for platinum-resistant ovarian cancer, toward the clinic.
Salubris Biotherapeutics
Salubris Biotherapeutics (SalubrisBio) is a clinical-stage biotechnology company in Gaithersburg, Maryland that engineers complex biologics for diseases with few good options - chiefly heart failure and cancer. Founded in 2016 as the US arm of China's Shenzhen Salubris Pharmaceuticals, its lead candidate JK07 is an antibody-fusion protein designed to harness the regenerative NRG-1/ErbB4 pathway in failing hearts while dialing out the side effects, and its oncology programs JK08 and JK06 pursue solid tumors through immune engagement and a 5T4-targeted biparatopic antibody-drug conjugate.
TORL BioTherapeutics LLC
TORL BioTherapeutics is a clinical-stage biopharmaceutical company in Culver City, California developing antibody-based cancer therapies, including antibody-drug conjugates (ADCs) and monoclonal antibodies. Built on discoveries from the UCLA laboratory of Dennis Slamon - the scientist behind Herceptin and Ibrance - TORL is advancing a pipeline against novel cancer targets such as Claudin 6, Claudin 18.2, CDH17, and DLK1. Its lead program, TORL-1-23 (ixotatug vedotin), a CLDN6-targeted ADC, is in pivotal trials for platinum-resistant ovarian cancer. The company has raised over $450 million across multiple rounds, including a $96 million Series C in October 2025.