Percheron Licenses Phase II-Ready Cancer Drug, Plans 2026 Trials
Percheron Therapeutics has licensed HMBD-002, a promising immuno-oncology candidate, completed FDA IND transfer, and plans to launch phase II trials in 2026. The company also reported a solid cash position and issued loyalty options to shareholders.
- Exclusive worldwide license for HMBD-002 from Hummingbird Bioscience
- HMBD-002 completed phase I trial with strong safety profile
- FDA IND sponsorship transferred to Percheron enabling clinical trial initiation
- Phase II clinical trial planned for 2026 with ongoing expert consultations
- Cash balance of AUD 10.17 million and 3.7 quarters runway reported
Percheron Expands Oncology Pipeline with HMBD-002 License
Percheron Therapeutics Limited has taken a significant step forward by licensing HMBD-002, a phase II-ready immuno-oncology drug candidate, from Singapore-based Hummingbird Bioscience. This exclusive worldwide license grants Percheron rights to develop, manufacture, and commercialise the drug across all territories and indications, marking a pivotal expansion of its oncology portfolio.
HMBD-002 is a recombinant monoclonal antibody targeting VISTA, a protein that suppresses immune responses around tumours. By inhibiting VISTA, HMBD-002 aims to reactivate the immune system’s ability to attack cancer cells, a mechanism that places it alongside established immunotherapies like Keytruda and Opdivo but with a novel target.
Clinical Progress and Regulatory Milestones
The drug has already completed a phase I clinical trial involving 48 patients with advanced solid tumours at leading US cancer centres, demonstrating a favourable safety profile both alone and combined with Keytruda. Encouraging patient responses suggest potential clinical efficacy, with full trial results expected later this year.
Importantly, Percheron has now completed the transfer of the Investigational New Drug (IND) application sponsorship with the US FDA, positioning itself as the formal regulatory sponsor. This transfer enables Percheron to initiate new clinical trials and oversee manufacturing, with a new batch of HMBD-002 drug substance currently being produced for upcoming studies.
Looking Ahead to Phase II and Beyond
Percheron plans to commence a phase II clinical trial in 2026. The company is actively consulting with immuno-oncology experts to refine the trial design and select optimal patient populations. Recent preclinical data published by Stanford University further supports HMBD-002’s potential, showing improved survival in combination with radiotherapy in a mouse cancer model.
Alongside its oncology focus, Percheron has licensed intellectual property related to long COVID diagnostics to HelixRx, diversifying its portfolio and potential revenue streams.
Financial Health and Shareholder Engagement
Financially, Percheron closed the quarter with AUD 10.17 million in cash, down from AUD 12.92 million the previous quarter, reflecting ongoing research and development investments. The company reports a forecast runway of approximately 3.7 quarters, noting that upcoming licensing payments and government R&D tax incentives will influence future cash flow.
To reward shareholder loyalty, Percheron issued over 107 million Loyalty Options exercisable at $0.035, valid until May 2028, at no cost to eligible shareholders, signaling confidence in its growth trajectory.
Bottom Line?
Percheron’s acquisition of HMBD-002 and FDA IND transfer set the stage for a critical phase II trial next year, with financial and clinical milestones to watch closely.
Questions in the middle?
- What will be the specific design and target patient groups for the upcoming phase II trial?
- How will manufacturing timelines and capacity impact the clinical trial schedule?
- What financial impact will licensing payments and R&D tax incentives have on Percheron’s cash runway?
