Cybrexa Therapeutics Closes $25 Million Series B Financing

-Proceeds will advance the company's lead program into clinical trials-

NEW HAVEN, Conn., March 10, 2021 (GLOBE NEWSWIRE) -- Cybrexa Therapeutics, an oncology-focused biotechnology company developing a new class of therapeutics through its alphalex Peptide Drug Conjugate (PDC) tumor targeting platform, today announced the completion of its $25 million Series B financing. The financing included HighCape Capital and new investor Elm Street Ventures. Proceeds from the financing will be used to support the planned advancement of Cybrexa's lead candidate CBX-12 (alphalex-exatecan) into the clinic. The first patient dosing in the Phase 1 study is expected in the first half of 2021.

"We are pleased that our efforts continue to be recognized and supported by our investors. This funding is a testament to our company's progress, execution and the strength of our alphalex platform technology," said Per Hellsund, President & CEO of Cybrexa. "This round of financing will be deployed to support the planned Phase 1 study for CBX-12."

CBX-12 is a novel treatment for solid tumors that includes a highly potent topoisomerase I inhibitor payload that is in the same class as the payloads used by antibody-drug conjugates (ADCs) ENHERTU and TRODELVY. In contrast to these ADCs, CBX-12 is able to target cancer cells independent of antigen overexpression, which should greatly expand the addressable patient populations. The positive results from the GLP toxicology study of CBX-12 will serve as a guide for the dosing regimen in the planned Phase I trial.

"We believe Cybrexa's technology and science form the basis for a robust development platform, capable of producing multiple targeted therapeutic options, for a variety of oncology indications," said Kevin Rakin, Partner of HighCape Capital. "We see the progress of CBX-12 into human trials as a significant milestone for the platform, as well as providing even more opportunities from a business perspective."

About CBX-12

CBX-12 is a novel treatment for solid tumors that includes a highly potent topoisomerase I inhibitor payload that is in the same class as the payloads used by antibody-drug conjugates (ADCs) ENHERTU and TRODELVY. In contrast to these ADCs, CBX-12 is able to target cancer cells independent of antigen overexpression, which should greatly expand the addressable patient populations. Positive results from the GLP toxicology study of CBX-12 will serve as a guide for dosing regimen for the planned Phase I trial of CBX-12, as Cybrexa filed the IND on February 19, 2021. CBX-12 is currently being investigated in collaboration with NCI in pre-clinical safety and efficacy studies in the solid tumor landscape. This partnership will also explore its therapeutic potential to conduct trials in a wide number of indications and in combination with other therapies such as immune-oncology and PARP inhibitors.

About the alphalex Technology Platform
The Cybrexa alphalex technology platform - which consists of a pHLIP peptide, linker, and small molecule anti-cancer agent (payload) - enables antigen-independent targeting of tumors and intracellular delivery of highly potent anticancer therapies, creating therapeutics that can revolutionize the standard of care. pHLIP peptides are a family of pH-Low Insertion Peptides that target acidic cell surfaces. pHLIP was developed at Yale University and the University of Rhode Island, and is exclusively licensed to pHLIP, Inc. alphalex represents the disruptive next generation in tumor targeting. View a video of the mechanism of action of the technology at www.cybrexa.com.

About Cybrexa
Cybrexa is a privately-held biotechnology company dedicated to developing next-generation tumor-targeted cancer therapies using its alphalex platform. The Company's lead candidate, CBX-12, an alphalex-exatecan conjugate, is expected to enter Phase I/II in 2021 in advanced solid tumors. Cybrexa also has other preclinical toxin conjugate programs as well as synthetic lethality programs. Cybrexa was founded by physician-scientists and has an experienced management team that has built numerous successful life sciences companies. For more information about Cybrexa, please visit www.cybrexa.com.

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