管线覆盖ADC和RLT，这家创新药企总融资近6亿美元

Core Insights - Immunome completed a $150 million financing round in January 2025, aimed at advancing its core pipeline into clinical translation [1] - The company announced the first patient dosing in the Phase I clinical trial of its ROR1-targeting ADC (antibody-drug conjugate) IM-1021 in March 2025 [1] - Immunome's core product pipeline, Varegacestat (AL102), has completed patient enrollment in the Phase III RINGSIDE trial, with topline data expected in the second half of 2025 [1] Company Overview - Immunome has raised a total of $598.9 million over 21 funding rounds since its establishment 17 years ago, indicating strong investor confidence [1][21] - The company specializes in targeted oncology and leverages rapid antibody screening and precise delivery technologies to address the limitations of traditional cancer treatments [1][2] Technology and Innovation - Immunome's competitive edge lies in its Memory B cell technology and Targeted Effector platform, which enhance antibody affinity and specificity while minimizing off-target damage [3][4] - The Memory B cell platform utilizes patient-derived memory B cells to discover antibodies that are naturally equipped to target tumor-specific antigens, particularly useful for resistant tumors [5] - The Targeted Effector platform allows for modular design to optimize drug delivery and efficacy, significantly improving the therapeutic index compared to traditional methods [6][7] Product Pipeline - Immunome's pipeline includes three clinical-stage products: Varegacestat (AL102), IM-1021 (ROR1 ADC), and IM-3050 (RLT) [8] - Varegacestat is an oral γ-secretase inhibitor targeting rare sarcomas, showing a 64% objective response rate in Phase II trials [9] - IM-1021 is designed to overcome resistance in solid tumors, utilizing a high drug-to-antibody ratio (DAR8) to enhance efficacy [11] - IM-3050 targets FAP-positive cancer-associated fibroblasts, demonstrating significant potential in overcoming the tumor microenvironment barriers [16][17] Financial Performance - In 2024, Immunome reported revenues of $9.04 million, reflecting a 35.5% year-over-year decline, although losses have narrowed compared to 2023 [23] - The financing structure is heavily weighted towards post-IPO funding, which poses dilution risks for existing shareholders [22]