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Surface Oncology, Inc. (NASDAQ: SURF) is a clinical-stage immuno-oncology company pioneering the development of next-generation cancer immunotherapies. Founded on cutting-edge research from world-renowned immunologists and cancer researchers from institutions like Memorial Sloan Kettering and Harvard, Surface Oncology aims to harness the power of the immune system to fight cancer more effectively.
The company's innovative pipeline is focused on the tumor microenvironment, featuring two wholly-owned antibody programs: SRF388 and SRF114. SRF388 targets IL-27, an immunosuppressive cytokine, and is currently in Phase 2 clinical trials. It has shown promise as both a monotherapy and in combination with checkpoint inhibitors, and has been granted Orphan Drug and Fast Track designations by the FDA for refractory hepatocellular carcinoma. SRF114, in Phase 1 trials, specifically depletes CCR8+ regulatory T cells within the tumor microenvironment, aiming to drive anti-tumor immunity.
Surface Oncology has also established significant partnerships with major pharmaceutical companies, including Novartis and GlaxoSmithKline, to advance additional pipeline programs. Their collaboration with Novartis targets CD73 (NZV930), currently in Phase 1, while their partnership with GlaxoSmithKline focuses on PVRIG (GSK4381562), also in Phase 1.
Recently, Surface Oncology completed a $35 million Series A financing round, bolstered by A-list investors such as Atlas Venture, New Enterprise Associates, Fidelity Biosciences, Lilly Ventures, Amgen Ventures, Novartis Institute for Biomedical Research, and former Bristol-Myers Squibb R&D head Elliott Sigal. The company has used these funds to advance its clinical programs and explore new therapeutic avenues.
In a significant development, Surface Oncology has announced a proposed merger with Coherus BioSciences. This merger aims to combine resources to advance SRF388 and SRF114 through clinical trials and eventually to market. The merger is expected to provide Surface with net cash of $20 million to $25 million at closing, although the outcome is contingent on shareholder approval.
Financially, Surface Oncology reported a net loss of $28.2 million for the second quarter of 2023. The company anticipates that its cash reserves will sustain operations through the end of 2023. Amidst these developments, Surface continues to focus on its core mission: to develop innovative, next-generation cancer treatments that offer meaningful and sustained anti-tumor responses.
Surface Oncology (Nasdaq: SURF) announced that CEO Jeff Goater will speak at the H.C. Wainwright Bioconnect 2021 Conference from January 11–14, 2021. The presentation will cover key immunotherapy programs, including SRF617 targeting CD39 and SRF388 targeting IL-27, along with a new preclinical program, SRF114 targeting CCR8. Conference attendees can access the discussion on demand starting January 11 at 6:00 a.m. ET. Surface Oncology is focused on developing innovative therapies aimed at the tumor microenvironment to improve anti-tumor responses.
Surface Oncology announced an exclusive licensing agreement with GSK for SRF813, a novel antibody targeting PVRIG. GSK will pay $85 million upfront and could pay up to $730 million in future milestones. The deal is expected to enhance Surface's oncology portfolio, enabling continued development of its clinical programs: SRF617, SRF388, and SRF114. With this agreement, Surface projects to sustain operations through 2023. SRF813 is anticipated to enter IND-enabling studies, with an IND filing planned for 2021.
Surface Oncology (Nasdaq: SURF) has announced participation in the 3rd Annual Evercore ISI Global HealthCONx Conference on December 2, 2020, at 12:10 p.m. ET. CEO Jeff Goater and CMO Robert Ross will discuss the company's lead programs SRF617 (targeting CD39) and SRF388 (targeting IL-27), along with emerging pre-clinical candidates SRF813 (targeting PVRIG) and SRF114 (targeting CCR8). Surface is focused on developing next-generation immunotherapies aimed at enhancing anti-tumor responses.
Surface Oncology (Nasdaq: SURF) announced advancements in its lead clinical programs SRF617 and SRF388, meeting criteria for combination and expansion stages in Phase 1 trials. Both programs have shown pharmacodynamic activity without dose-limiting toxicities. Highlights for SRF617 include successful dose escalation and target occupancy, with plans to combine it with Merck's KEYTRUDA. SRF388 has demonstrated maximal inhibition of the IL-27 pathway and received Orphan Drug designation from the FDA. Detailed results are expected to be presented at an upcoming medical conference in 2021.
Surface Oncology (Nasdaq: SURF) announced that the FDA has granted Fast Track designation to SRF388 for treating hepatocellular carcinoma (HCC), a liver cancer. HCC cases have tripled in the U.S. since 1980, highlighting the urgent need for new therapies.
Dr. Rob Ross emphasized SRF388's potential as it targets IL-27, an immuno-suppressive cytokine elevated in liver cancer patients. Currently, SRF388 is enrolling in a Phase 1 study for advanced tumors, indicating significant progress in its development.
The Fast Track designation aims to expedite the review of drugs addressing serious conditions.
Surface Oncology (SURF) reported its Q3 2020 financial results, highlighting continued patient enrollment in Phase 1 studies for SRF617 and SRF388. The company presented new preclinical data on SRF388 at the ICIS conference and advanced SRF813 into IND-enabling studies. As of September 30, 2020, cash and equivalents stood at $102.5 million. R&D expenses decreased to $9.5 million from $12.9 million year-over-year, while G&A expenses slightly dropped to $4.9 million. The net loss for the quarter was $15.8 million compared to $16.9 million in 2019. The company expects its funds to last into 2022.
Surface Oncology (Nasdaq: SURF) will participate in the Cowen 4th Annual IO Next Summit on November 13, 2020, at 10:45 a.m. ET. CEO Jeff Goater and CMO Robert Ross, M.D., will discuss the company's lead immunotherapy programs, SRF617 (CD39) and SRF388 (IL-27). The event will be accessible via live audio and archived webcasts on the company's investor relations website.
Surface Oncology focuses on developing innovative immunotherapies targeting the tumor microenvironment, with additional collaborations and preclinical programs aiming for significant anti-tumor responses.
Surface Oncology announced promising preclinical results for its immuno-oncology therapies, SRF388 and SRF114, at the SITC 35th Annual Meeting. SRF388 showed single-agent activity in inhibiting hepatocellular carcinoma (HCC) tumor growth in a mouse model and identified elevated serum levels of IL-27 as a potential biomarker for poor prognosis in HCC patients. SRF114 was demonstrated to deplete tumor regulatory T cells. Both therapies aim to enhance anti-tumor responses, with SRF388 specifically targeting IL-27 to overcome immunosuppressive mechanisms in HCC.
Surface Oncology (Nasdaq: SURF) announced preclinical data on SRF388, an IL-27 blocking antibody for cancer, to be presented at the ICIS 2020 Conference from November 1-5, 2020. The data highlight SRF388's ability to inhibit downstream signaling events critical for immune response regulation in specific tumor environments. The ongoing Phase 1 clinical trial aims to evaluate SRF388's effectiveness in treating advanced solid tumors. The company identified potential biomarkers to help predict patient responses to treatment.
Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company, announced participation in the upcoming Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 21. CEO Jeff Goater and CMO Robert Ross, M.D., will discuss key programs, including SRF617 targeting CD39 and SRF388 targeting IL-27. Additionally, they will highlight the preclinical pipeline featuring SRF813, which targets CD112R (PVRIG). Surface Oncology focuses on developing innovative antibody therapies aimed at enhancing anti-tumor responses.
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