Clasp Therapeutics emerges with $150M based on work from Bert Vogelstein, Drew Pardoll
Endpoints News
March 20, 2024
Clasp Therapeutics emerges with $150M based on work from Bert Vogelstein, Drew Pardoll
Researchers at Johns Hopkins University have launched another biotech that builds on more than a decade of investigation that they hope will improve T cell engagers and limit their off-tumor toxicities.
Bert Vogelstein, who founded companies like Thrive and Haystack Oncology, has been working with Drew Pardoll for years on mutation-associated neoantigens, or MANAs. They formed a biotech around the idea in 2020, naming it ManaT Bio.
Now, they’re unveiling the rebranded biotech as Clasp Therapeutics, with $150 million in seed and Series A financing. Contributing funds are Catalio Capital Management, Third Rock Ventures, Novo Holdings, Vivo Capital, Cure Ventures and other firms. Vogelstein is a venture partner at life sciences investment firm Catalio, which was co-founded by his son, Jacob.
Steering the Boston-area and Rockville, MD biotech is Robert Ross. He joined in November after Coherus bought Surface Oncology, the drug developer that he previously led.
“Broadly, immuno-oncology is really helping probably less than 30% of the total number of cancer patients that are out there,” Ross said in an interview with Endpoints News.
The biotech hopes to have fewer safety concerns than those associated with current T cell engagers like Johnson & Johnson’s Tecvayli and Pfizer’s Elrexfio.
“Other T cell engagers have gone after targets that are also on healthy tissues as well, and it creates a real challenge with a therapeutic window because these are very potent modalities,” Ray Camahort, a partner in Novo Holdings’ venture investments group, said in an interview. “What Clasp is doing is highly differentiated because they are truly going after tumor-specific antigens.”
Camahort and Vivo Capital managing partner Jack Nielsen joined the board in conjunction with the financing.
Clasp aims to be very precise. “We are going after specific mutations in the context of specific HLA presentation, so there is no question about how to select these patients — it comes directly from the scientific basis,” Ross said.
“While it does mean that the size of the patient population can be smaller, I am more than happy to take that trade-off to feel like every patient we enroll, even the patients in the Phase I, have an opportunity to respond,” he added. That could equate to more efficacious treatment and a more solid business model, he noted.
The financing gives Clasp enough capital to go into the clinic, but Ross stayed mum on when and how many treatment candidates could be tested in humans with this round.
Aside from Ross, Clasp’s leadership team includes chief scientific officer and Third Rock partner Andrea Van Elsas. Rounding out the C-suite are development chief Shannon Devens (also from Surface), business chief Julie DeSander, chief technology officer Jim Bingham and chief people officer Caren Block.