Israel-based clinical-stage company Purple Biotech (TASE/Nasdaq: PPBT) today announced it is advancing into a Phase II study with NT219 in patients with recurrent/metastatic squamous cell carcinoma. of the head and neck (R/M SCCHN), with the news pushing its shares up as much as 10% to 6.50 shekels.
Purple Biotech’s NT219 is a first-in-class small molecule drug designed to target key cancer resistance mechanisms by degrading IRS1/2 and blocking IGF1R/IRS1 and STAT3 survival pathways, resensitizing refractory tumors to immune checkpoint inhibitors, EGFR blockers, and chemotherapy, as demonstrated in various pre-clinical models.
The company noted that the market for products and treatments related to SCCHN is forecast to become worth $5 billion by 2030, yet only 20% of recurrent/metastatic SCCHN patients respond to pembrolizumab (Keytruda), the world’s top-selling oncology drug from Merck & Co (NYSE: MRK), and only 15%-20% respond to cetuximab (Erbitux), from Germany’s Merck KGaA (MRK: DE). Approximately 175,000 people are diagnosed with SCCHN annually, making it the sixth most common cancer type.
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