Fierce Biotech names STORM Therapeutics as one of its "Fierce 15" Biotech Companies of 2022
STORM recognised as an innovative early-stage biotechnology company pioneering novel drug targets
CAMBRIDGE, England, Sept. 12, 2022 /PRNewswire/ -- STORM Therapeutics Ltd. (STORM), the biotechnology company discovering and developing novel small molecule therapies targeting RNA modifying enzymes for oncology and other diseases, is pleased to announce that Fierce Biotech has named it as one of its 2022 "Fierce 15", designating it as one of the most exciting biotechnology companies in the industry. This award highlights STORM's dedication to developing novel treatments for the unmet medical need of patients, and its successes at the forefront of the RNA modification field.
Dr. Jerry McMahon, CEO of STORM Therapeutics added: "We are thrilled to be named among the industry's most exciting biotech companies. As the first ever biotech to put a targeted RNA-modifying enzyme (RME) inhibitor into the clinic, it is an honor that STORM's focus to become the global leader in our field of RME has been recognized. We look forward to continuing the progression of STORM by advancing our first-in-class candidate STC-15 into clinical development and bring forward our pipeline of drug candidates next year for oncology and other disease indications.
STORM's first-in-class clinical candidate STC-15, an orally bioavailable, highly selective METTL3 inhibitor, is on track to begin initial clinical studies in solid tumors in 2022 and will be the first molecule specifically targeting an RNA modifying enzyme to enter clinical development. In 2021, STORM also entered into a significant drug discovery partnership with a leading oncology company to target the RNA editor ADAR1.
The Fierce 15 awards celebrate the spirit of being "fierce" – championing innovation and creativity, even in the face of intense competition. This is Fierce Biotech's 20th annual Fierce 15 selection.
An internationally recognized daily report reaching a network of over 450,000 biotech and pharma industry professionals, Fierce Biotech provides subscribers with an authoritative analysis of the day's top stories. Every year Fierce Biotech evaluates hundreds of early-stage companies from around the world for its annual Fierce 15 list, which is based on a variety of factors such as the strength of its technology, partnerships, venture backers and competitive market position.
About STORM Therapeutics
STORM Therapeutics (STORM) is a biotechnology company creating novel therapies that inhibit RNA modifying enzymes (RME) for use in oncology and other diseases. There are more than 150 RNA modifications reported and approximately 300 RNA modifying enzymes which represent novel therapeutic targets.
STORM has leveraged its first-mover advantage to establish a novel drug discovery and RNA analytics platform leading to the identification of novel targets and a proprietary pipeline of first in class small-molecule drug candidates for potential use in oncology, inflammation, viral infections and CNS diseases.
The pipeline is exemplified by STORM's METTL3 inhibitor (STC-15) for which an IND has been filed with the FDA to support initiation of a Phase 1 clinical trial in cancer patients in 2022. STC-15 represents the first RNA modifying enzyme inhibitor to enter clinical evaluation in humans. Additional candidates are planned for advancement into IND-track activities in 2023.
STORM investors include M Ventures (the corporate venture capital arm of Merck KGaA, Darmstadt, Germany), Pfizer Ventures, Taiho Ventures, Cambridge Innovation Capital, Seroba Life Sciences, IP Group, Fast Track Initiative (FTI) and the University of Tokyo Innovation Platform.
STORM's lead program STC-15 is a first-in-class clinical candidate and will be the first inhibitor of RNA modification to enter clinical development in humans. STC-15 is an oral small molecule that inhibits METTL3 which is an RNA methyltransferase implicated in oncology and other diseases. Certain RNA methyltransferase are important regulators of RNA sensing and innate immune activation and represent novel immune-regulatory targets.
STC-15 has also been shown to inhibit tumor growth through mechanisms involving anti-cancer immune responses such as changes in interferon signaling and synergy with T cell checkpoint blockade. In addition, STC-15 has shown efficacy in leukemia models via mechanisms including inhibition of leukemia stem cell function.
STC-15 is planned for initial clinical study in cancer patients with solid tumors in 2022.
About Fierce Biotech
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SOURCE STORM Therapeutics
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