EvolveImmune Therapeutics

About EvolveImmune Therapeutics

EvolveImmune Therapeutics is a clinical-stage immuno-oncology company founded in 2019, developing biotherapeutics to address resistance to current cancer therapies. The company was co-founded by Stephen Bloch, MD, a venture capitalist and physician, alongside Charles Fuchs, MD, of Yale's Smilow Cancer Center, and geneticist Sidi Chen. The firm's foundation is built upon technology licensed from Chen's lab at Yale University, which utilizes CRISPR gene-editing technology for in vivo target discovery. Bloch, who serves as CEO, brings experience from his role as a general partner at Canaan Partners and has a background in both medicine and venture capital, having been named BioCT's Entrepreneur of the Year in 2023.

The company's core business revolves around its proprietary EVOLVE platform, which creates multifunctional T-cell engaging biotherapeutics. This technology is engineered to deliver potent and selective T-cell co-stimulation through the CD2 pathway, aiming to enhance the tumor-killing capacity of T-cells. By doing so, it seeks to overcome challenges posed by immunologically "cold" solid tumors and hematologic malignancies where traditional immunotherapies are less effective. The business model is centered on proprietary drug development and strategic collaborations with major pharmaceutical companies. A significant milestone was the October 2024 collaboration and option-to-license agreement with AbbVie. Under this agreement, EvolveImmune received $65 million in upfront payments and an equity investment, with the potential for up to $1.4 billion in option fees and milestone payments, plus tiered royalties.

EvolveImmune's product pipeline includes several candidates for both solid and hematologic cancers. Its lead program, EV-104, is a T-cell engager targeting a range of solid tumors, with first-in-human clinical trials anticipated to begin in 2025. Another program, EVOLVE205, is a CD20-targeted T-cell engager being developed. The company's operations are financed through venture capital and strategic investments. After an initial $35 million Series A round in 2020, it secured a $37 million financing in December 2023 from investors including Pfizer Ventures, Bristol Myers Squibb, and Takeda Ventures. This funding is directed towards advancing the EV-104 program and overall pipeline development.