Flamingo Therapeutics has been awarded a research grant of €1.7 million ($1.9 million) by Flanders Innovation & Entrepreneurship (VLAIO). The award represents the funding at 60% of a €2.9 million ($3.2 million) project.
Funding from the grant will be used to advance Flamingo Therapeutics’ RNA-targeting oncology portfolio, including translational research for its lead clinical program, danvatirsen, in phase II in head and neck squamous cell carcinoma, and preclinical work on its long non-coding RNA (LncRNA) program targeting MALAT-1.
“We are thrilled to be recognized by VLAIO as a company who is innovating and disrupting the oncology landscape with our RNA-targeting approach,” said Floor Stam, head of corporate development and operations.
“This award provides further validation of our approach in creating a meaningful pipeline of programs that target undruggable transcription factors and non-coding RNA, such as STAT3 and MALAT-1. We thank VLAIO for their partnership and collaboration in helping us build a leading oncology company based on RNA therapeutics.”
Phase 2 development for Flamingo Therapeutics’ danvatirsen
Danvatirsen is an antisense oligonucleotide (ASO) that selectively targets STAT3 and has shown clinical activity in two phase II clinical studies. Danvatirsen binds to STAT3 mRNA, inducing breakdown of the transcript. Currently, danvatirsen is planned to continue phase 2 clinical development for head and neck squamous cell carcinoma to advance the program through key clinical milestones and data readouts.
Flamingo Therapeutics is also advancing FTX-001, its most advanced long non-coding RNA (LncRNA) program which targets MALAT-1, through readiness for phase 1 in solid tumors. LncRNAs are a large and untapped class of disease-causing targets within the “dark matter” of the human genome.
Receipt of this funding follows the merger between Flamingo Therapeutics and Dynacure, announced in March 2023.