Press & Media
NEW YORK, May 1, 2024 /PRNewswire/ -- Traverse Biotech, Inc. has been awarded a Phase I Small Business Innovation Research (SBIR) grant from the National Institute of Allergy and Infectious Diseases (NIAID), part of the NIH. This grant will support the development of our oral innate immunotherapy stimulant modality with an emphasis on the evaluation of monocytic cellular activation using pathogen-associated molecular patterns (PAMPs) motifs.
We are pleased to announce that after several years as an advisor, Olivier Audemard has officially joined Traverse Biotech, Inc as Chief Financial Officer, effective March 1st, 2024. We are grateful for his continued contributions and leadership as Traverse moves into its exciting next phase.
Prior to joining Traverse Biotech, Olivier was Managing Director and Head of the Structured Finance activities at Credit Agricole Americas in New York. He has had a distinguished career at both Credit Agricole and Crédit Lyonnais, having held prominent roles within Investment Banking in Paris and London before his tenure in New York. Olivier's adeptness in navigating complex financial landscapes and structuring strategic investments will be instrumental in supporting Traverse Biotech's financial strategies and growth initiatives.
NEW YORK, Oct. 18, 2023 /PRNewswire/ -- Traverse Biotech, Inc announced today that the National Cancer Institute (NCI) of the National Institutes of Health has awarded them a Small Business Innovation Research (SBIR) Phase 1 Grant to fund the development of a unique bispecific antibody approach for treating Non-small Cell Lung Cancer (NSCLC), the most prevalent type of lung cancer in the United States
This new licensing collaboration strives to accelerate the development of an immuno-oncology product for the treatment of selected cancers.
NEW YORK, Sept. 12, 2023 /PRNewswire/ -- Traverse Biotech, a US-based biotechnology company focused on the development of immunotherapies from international biopharma companies, announces that it has signed a license agreement with Genmab under which Traverse will develop and commercialize a bispecific antibody for cancer immunotherapy. This next-generation antibody was created using Genmab's proprietary DuoBody® bispecific antibody technology platform as a targeted treatment candidate for cancers expressing an undisclosed tumor-associated antigen. Targeting this tumor-associated antigen with the bispecific antibody will direct T cell-mediated cytotoxicity against both solid and liquid tumors.
Life science innovation is global, but biotech creation and financing are not. In this Nature Review Drug Discovery Article, Traverse reviews Biotech growth in Europe and the US, specifically exploring how different economic dynamics yields different support for early-stage biotechs. According to a report by McKinsey, 43 of the top 100 global life science universities are in Europe, compared to 34 being in the USA. And while biotech startups created in Europe have access to large pools of local non-dilutive early-stage financing, further financing to cover the high costs of clinical development suffers due to limited optionality for future liquidity including access to public markets. This financial constraint can severely limit the European biotech companies forcing them to limit their potential pipeline of innovative products and focus ther financing on select lead assets. Importantly, the US hosts two of the largest financial securities markets for IPOs, the NASDAQ and the NYSE with large daily trading volume. This trading volume provides exit optionality to US-based investors, allowing them to potential sell their equity rather than waiting for a product to reach market. These capital resources are necessary to build biotech companies and technology platforms that are highly capital intensive. We therefore underline an opportunity for strategic and innovative transatlantic collaborations to provide pathways for novel therapies to develop faster and reach patients sooner regardless of their geographical origin.