VelosBio

The company's central focus was on developing first-in-class cancer therapies that target the receptor tyrosine kinase-like orphan receptor 1 (ROR1). ROR1 is a protein expressed on the surface of various cancer cells but not typically on healthy adult tissues, making it a specific target for therapeutic intervention. VelosBio's business model was centered on the research and development of a pipeline of ROR1-targeting antibody-drug conjugates (ADCs) and bispecific antibodies to treat both hematologic malignancies and solid tumors. The company's strategy involved raising capital from venture firms to fund its clinical trials and advance its product candidates. Prior to its acquisition, VelosBio had successfully raised over $200 million.

VelosBio's lead product candidate was VLS-101, an investigational ADC. This product works by combining a monoclonal antibody that targets ROR1 with a potent chemotherapy agent, monomethyl auristatin E (MMAE). The antibody is designed to bind to ROR1 on cancer cells, allowing the ADC to enter the cell and release the cytotoxic MMAE to destroy it, thereby aiming to spare normal, healthy cells. VLS-101 showed promising early results in clinical trials for patients with heavily pretreated hematologic cancers, such as mantle cell lymphoma and diffuse large B-cell lymphoma. The U.S. FDA granted VLS-101 both orphan drug and fast-track designations for the treatment of mantle cell lymphoma. The company initiated a Phase 2 trial in October 2020 to evaluate VLS-101 in patients with solid tumors, including triple-negative breast cancer and non-small-cell lung cancer.