Purple Biotech’s IM1240 Shows Potent Activity in Resistant Tumors, Cash Runway Into 2027
New IM1240 tri-specific antibody data showed potent killing across all treatment-resistant patient-derived tumor samples and improved therapeutic index thanks to the NKG2A arm. Purple Biotech held $6.4 million cash at March 31, 2026, securing runway into 2027 and established a CAPTN-3 Scientific Advisory Board plus a generative AI collaboration.
1. Preclinical Efficacy Data for IM1240
IM1240 demonstrated potent anti-tumor activity across all tested patient-derived resistant samples, including PD-1/chemotherapy-resistant head and neck squamous cell carcinoma and enfortumab vedotin plus PD-1-resistant bladder cancer. The NKG2A arm significantly enhanced efficacy and therapeutic index, and induced mature tertiary lymphoid structures in a NSCLC biopsy, indicating a favorable immune response.
2. CAPTN-3 Advisory Board and AI Collaboration
Purple Biotech formed a Scientific Advisory Board of experts in T-cell engager development, NK and T cell biology, translational science and clinical oncology to guide CAPTN-3 advancement. The expanded partnership with Converge Bio leverages generative AI to accelerate design and optimization of next-generation tri-specific antibodies targeting high-value solid tumor mechanisms.
3. Financial Position and Outlook
In Q1 2026, R&D expenses rose to $1.2 million and G&A to $1.0 million, resulting in an adjusted operating loss of $2.1 million. Finance income of $2.2 million narrowed net loss to $0.1 million. With $6.4 million cash as of March 31, 2026, the company expects funding into 2027 and is focusing resources on first-in-human CAPTN-3 studies in 2027.