Pheast Therapeutics sticks with open R&D despite competitor Antengene moving ahead with anti‑CD24 trials
Pheast Therapeutics, a Redwood City biotech founded in 2021, builds on Irv Weissman’s 2019 Nature paper that highlighted the CD24 protein as a promising "don’t eat me" target for cancer immunotherapy.
The company raised a $76 million Series A round in 2022 and used the funds to develop an IgG4 anti‑CD24 macrophage checkpoint inhibitor, PHST001, which entered clinical trials for advanced solid tumors with the first patient dosed in April 2025.
Chinese biotech Antengene launched its own anti‑CD24 candidate, ATG‑031, into human trials in 2023 and completed a U.S. trial in June, making it the first to test this target in patients.
Pheast’s CEO says the firm will continue its transparent research approach despite the competitive pressure, arguing that openness can still drive long‑term value even when rivals move faster.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “Why Pheast’s CEO has no regrets about transparent approach to R&D despite competitors circling”
read at Fierce Biotech ↗
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