by Jakub Jarolím, Business Intelligence Department
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SOTIO Biotech
19/8/2025
March 2025 Biotechnology: Review of news from the most innovative therapeutic areas and the business development transactions
Market
Slow IPO season may be coming to an end, as four biotechs completed IPO of $100+ million
A slow season for biotech IPOs may be coming to an end. In September, four biopharmas have completed NASDAQ listings in which each raised more than $100 million, including Bicara with $315 million IPO. Most recently, Upstream Bio filed for IPO seeking to raise $100 million.
Antibody-Drug Conjugates
Elevation Oncology is axing development of its Claudin 18.2 ADC EO-3021 in Phase 1
Investigational Rina-S continues to show encouraging antitumor activity in ovarian cancer
Interleukin-15 and Interleukin-2
Mural Oncology to discontinue its Phase 3 trial of nemvaleukin plus pembrolizumab
Mural Oncology announced that the ARTISTRY-7 Phase 3 trial of nemvaleukin alfa in combination with pembrolizumab vs investigator’s choice chemotherapy in patients with platinum-resistant ovarian cancer (PROC) will not continue to final analysis and the company will cease development of nemvaleukin for PROC.
Cell Therapies
AZ to acquire EsoBiotec with CAR-T targeting BCMA in Phase 1 for up to $1 billion
The FDA has approved the IND application of CTD402 for the treatment of pediatric and adult patients with relapsed/refractory T-ALL/LBL, allowing for the start of a single-arm, open-label phase 1b/2 trial. The study will utilize a dose-finding design and aims to optimize dosing of CTD402 and accelerate clinical development. CTD402 is a universal CAR T-cell therapy that works by targeting CD7 that comes from healthy donors.
Other Innovative Treatment Areas
ITM presented positive topline Phase 3 data with 177Lu-edotreotide
ITM presented positive topline data from its Phase 3 COMPETE trial in patients with Grade 1 or Grade 2 somatostatin receptor (SSTR)-positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs).
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