Flamingo Therapeutics has been awarded a €1.7 million ($1.9 million) research grant by Flanders Innovation & Entrepreneurship (VLAIO). The award represents funding of 60% of the €2.9 million ($3.2 million) project.
Funding from the grant will be used to advance Flamingo Therapeutics’ RNA-targeting oncology portfolio, including translation research for its primary clinical program, danvatirsen, in phase II in head and neck squamous cell carcinoma, and preclinical work on long non-coding RNA (LncRNA) targeting MALAT -1.
“We are thrilled to be recognized by VLAIO as a company that is innovating and disrupting the oncology landscape with our RNA targeting approach,” said Floor Stam, the company’s head of development and operations.
“This award provides further validation of our approach in creating a meaningful suite of programs targeting non-repairable transcription factors and non-coding RNAs, 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 therapy.”
Phase 2 development for danvatirsen Flamingo Therapeutics
Danvatirsen is an antisense oligonucleotide (ASO) that selectively targets STAT3 and has demonstrated clinical activity in two phase II clinical studies. Danvatirsen binds to STAT3 mRNA, causing transcription damage. Currently, danvatirsen plans to continue with phase 2 clinical development for head and neck squamous cell carcinoma to advance the program through major clinical milestones and data readouts.
Flamingo Therapeutics is also advancing FTX-001, a state-of-the-art long non-coding RNA (LncRNA) program targeting MALAT-1, through readiness for phase 1 in solid tumors. LncRNAs are a large and untapped class of disease-causing targets in the “dark matter” of the human genome.
The receipt of this funding follows the merger between Flamingo Therapeutics and Dynacure, which was announced in March 2023.