Galvanize Therapeutics raises $100 million in Oversubscribed Series C Financing to Transform the Treatment of Cancer and Chronic Lung Disease

On September 3, 2025 Galvanize ("Galvanize") Therapeutics, Inc, a commercial-stage medical technology company pioneering pulsed electric field (PEF) therapies for oncology and chronic lung disease reported it has successfully raised an oversubscribed $100 million Series C financing (Press release, Galvanize Therapeutics, SEP 3, 2025, View Source [SID1234655740]). The round was led by Sofinnova Partners, a leading European life sciences venture capital firm, with participation from a global syndicate of top-tier investors including Norwest Venture Partners, Elevage Medical Technologies, Ally Bridge Group, Perceptive Xontogeny Venture Fund, Janus Henderson Investors and Longaeva. Existing investors Fidelity Management & Research Company, T. Rowe Price, Gilmartin Capital, Intuitive Surgical and the company’s founding investor, Apple Tree Partners ("ATP"), also participated in the round.

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Proceeds from the financing will be used to expand the company’s commercial footprint and advance its clinical and development activities related to Aliya PEF in solid tumors and RheOx therapy for chronic bronchitis. The company will also use the funds to continue to innovate its novel PEF platform, a non-pharmacologic intervention which uses non-thermal, short-duration, highly focused electrical pulses that destabilize cellular pathologic processes in hopes of changing the disease trajectory for these patients.

Concurrent with the financing, Doug Godshall, former CEO of Shockwave Medical and HeartWare International, was appointed Chairman and CEO of Galvanize Therapeutics, while Jonathan Waldstreicher assumed the role of President and Chief Strategy Officer.

Mr. Godshall commented: "I began following Galvanize in 2016 and became actively involved when I joined the board as Chairman in 2021. I have grown increasingly enthusiastic about the company’s prospects over the last year as the team continued advancing our portfolio and commencing our initial commercial efforts. Galvanize’s Aliya and RheOx technologies hold great promise in the fields of solid tumor oncology and chronic bronchitis. There are millions of patients who are underserved by today’s largely pharmaceutical approaches, and I feel fortunate to be able to join the team as we seek to meaningfully improve the outcomes of those who are suffering with these chronic diseases."

As part of the financing, Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, Zack Scott, M.D., General Partner at Norwest, and David Lewis, Managing Partner at Gilmartin Capital, have joined the Board of Directors.

Mr. Papiernik added: "We have closely followed Galvanize for years and are impressed by its technology, strong team, and execution. Partnering again with Doug after our Shockwave success, and working with such a powerful syndicate, was an opportunity we couldn’t refuse. We believe Galvanize’s PEF program could significantly improve treatment and benefit patients with serious unmet needs."

Galvanize Therapeutics raises $100 million in Oversubscribed Series C Financing to Transform the Treatment of Cancer and Chronic Lung Disease

On September 3, 2025 Galvanize ("Galvanize") Therapeutics, Inc, a commercial-stage medical technology company pioneering pulsed electric field (PEF) therapies for oncology and chronic lung disease reported it has successfully raised an oversubscribed $100 million Series C financing (Press release, Galvanize Therapeutics, SEP 3, 2025, View Source [SID1234655740]). The round was led by Sofinnova Partners, a leading European life sciences venture capital firm, with participation from a global syndicate of top-tier investors including Norwest Venture Partners, Elevage Medical Technologies, Ally Bridge Group, Perceptive Xontogeny Venture Fund, Janus Henderson Investors and Longaeva. Existing investors Fidelity Management & Research Company, T. Rowe Price, Gilmartin Capital, Intuitive Surgical and the company’s founding investor, Apple Tree Partners ("ATP"), also participated in the round.

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Proceeds from the financing will be used to expand the company’s commercial footprint and advance its clinical and development activities related to Aliya PEF in solid tumors and RheOx therapy for chronic bronchitis. The company will also use the funds to continue to innovate its novel PEF platform, a non-pharmacologic intervention which uses non-thermal, short-duration, highly focused electrical pulses that destabilize cellular pathologic processes in hopes of changing the disease trajectory for these patients.

Concurrent with the financing, Doug Godshall, former CEO of Shockwave Medical and HeartWare International, was appointed Chairman and CEO of Galvanize Therapeutics, while Jonathan Waldstreicher assumed the role of President and Chief Strategy Officer.

Mr. Godshall commented: "I began following Galvanize in 2016 and became actively involved when I joined the board as Chairman in 2021. I have grown increasingly enthusiastic about the company’s prospects over the last year as the team continued advancing our portfolio and commencing our initial commercial efforts. Galvanize’s Aliya and RheOx technologies hold great promise in the fields of solid tumor oncology and chronic bronchitis. There are millions of patients who are underserved by today’s largely pharmaceutical approaches, and I feel fortunate to be able to join the team as we seek to meaningfully improve the outcomes of those who are suffering with these chronic diseases."

As part of the financing, Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, Zack Scott, M.D., General Partner at Norwest, and David Lewis, Managing Partner at Gilmartin Capital, have joined the Board of Directors.

Mr. Papiernik added: "We have closely followed Galvanize for years and are impressed by its technology, strong team, and execution. Partnering again with Doug after our Shockwave success, and working with such a powerful syndicate, was an opportunity we couldn’t refuse. We believe Galvanize’s PEF program could significantly improve treatment and benefit patients with serious unmet needs."

AbbVie Announces Updated Results From Phase 2 EPCORE® NHL-6 Study Evaluating the Potential for Outpatient Monitoring of Epcoritamab in Patients With Relapsed/Refractory (R/R) Diffuse Large B-Cell Lymphoma (DLBCL)

On September 3, 2025 AbbVie (NYSE: ABBV) reported updated results from the Phase 2 EPCORE NHL-6 trial (NCT05451810) evaluating the feasibility of dosing and monitoring patients in the outpatient setting for the first full dose of epcoritamab monotherapy, a T-cell engaging bispecific antibody administered subcutaneously, in adult patients with relapsed/refractory (R/R) diffuse large B-cell lymphoma (DLBCL) who have received at least one prior line of systemic therapy (Press release, AbbVie, SEP 3, 2025, View Source [SID1234655739]). Results from the study demonstrated that the incidence and severity of cytokine release syndrome (CRS) and immune cell-associated neurotoxicity syndrome (ICANS) following treatment with epcoritamab were consistent with previous epcoritamab studies in R/R DLBCL. These results were shared today during a poster presentation (Abstract #ABCL-1224) at the 13th Society of Hematologic Oncology (SOHO) Annual Meeting.

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In the study, 88 patients received the first full dose (48 mg) of epcoritamab monotherapy. Of these, 81 patients (92%) were monitored in the outpatient setting and seven (8%) in the inpatient setting. Overall, CRS events occurred in 37 (40.2%) of patients during the entire trial period (n=92), were primarily low grade (Grade 1-2), all resolved with a median time of two days, and no events led to treatment discontinuation. ICANS occurred in seven patients (7.6%), were primarily low grade (Grade 1-2), all resolved with a median time of three days, and no events led to treatment discontinuation.

"The EPCORE NHL-6 trial results are notable, as current bispecific antibody treatments for relapsed and refractory diffuse large B-cell lymphoma patients may require in-hospital monitoring for cytokine release syndrome after certain initial doses and as needed after subsequent doses," said Jeff Sharman, M.D., disease chair, hematology research, Sarah Cannon Research Institute (SCRI) at Willamette Valley Cancer Institute in Eugene, Oregon. "The possibility of treating patients in the outpatient setting is encouraging, and it may enable more people to have access to this treatment option across various sites of care, including community settings."

The study also showed an overall response rate (ORR) of 64.3% and a complete response (CR) rate of 47.6%, at a median follow-up of 5.8 months, in patients (n=42) treated with epcoritamab after only one prior line of systemic therapy. In patients treated with epcoritamab following two or more lines of systemic therapy (n=50), with a median follow-up of 10.8 months, the study showed an ORR of 60.0% and a CR rate of 38.0%. Currently, epcoritamab is approved for R/R DLBCL after two or more prior lines of systemic therapy and is being investigated for use in earlier lines of therapy. See approved indication and important safety information below.

"The updated EPCORE NHL-6 trial findings presented at the Society of Hematologic Oncology Annual Meeting suggest that treatment of relapsed/refractory diffuse large B-cell lymphoma with epcoritamab can be safe in the outpatient setting. This potential shift to outpatient care could help improve access to treatment," said Svetlana Kobina, M.D., Ph.D, vice president, oncology medical affairs, AbbVie. "AbbVie remains committed to building on our leadership in blood cancer, which includes advancing research with our partner Genmab, that firmly establishes the impact of investigational epcoritamab in successive lines of treatment across B-cell malignancies."

DLBCL is the most common type of non-Hodgkin’s lymphoma (NHL) worldwide, accounting for approximately 25-30% of all NHL cases.1,2 In the U.S., there are approximately 25,000 new cases of DLBCL diagnosed each year.3 DLBCL can arise in lymph nodes as well as in organs outside of the lymphatic system, occurs more commonly in the elderly and is slightly more prevalent in men.4,5 DLBCL is a fast-growing type of NHL, a cancer that develops in the lymphatic system and affects B-cell lymphocytes, a type of white blood cell. For many people living with DLBCL, their cancer either relapses, which means it may return after treatment, or becomes refractory, meaning it does not respond to treatment. Although new therapies have become available, management can still be challenging.4,6

The use of epcoritamab in an outpatient setting for the first full dose in R/R DLBCL and as monotherapy in DLBCL in the second-line setting has not been approved by the U.S. FDA or any other Health Authority.

About the EPCORE NHL-6 Trial
EPCORE NHL-6 is a Phase 2 open-label clinical trial evaluating the safety of outpatient administration of subcutaneous epcoritamab as monotherapy in adult patients with relapsed or refractory diffuse large B-cell lymphoma (R/R DLBCL). The primary objective of the trial was to assess adverse events within three months of treatment initiation with epcoritamab monotherapy. The primary outcome measures were the percentage of participants experiencing Grade 3 or higher cytokine release syndrome (CRS) events, immune cell-associated neurotoxicity syndrome (ICANS) events, and/or neurotoxicity (Ntox) events. Secondary outcomes included responses to treatment as determined by Lugano 2014 criteria and assessed by investigators.

EPCORE NHL-6 enrolled 92 patients with R/R DLBCL who had received at least one prior line of systemic therapy, including at least one anti-CD20 monoclonal antibody-containing therapy. At the time of data cutoff (January 15, 2025), 92 patients had received ≥1 dose of epcoritamab (community: n=41; academic: n=51). Median follow-up was 7.6 months (range, 6.0-9.2) and 50% remained on treatment. Median age was 69 years, 83% had Ann Arbor stage III-IV, 24% had prior CAR T, 24% had bulky disease ≥7cm, and 51% had International Prognostic Index (IPI) ≥3. More information can be found at View Source (NCT05451810).

About Epcoritamab
Epcoritamab is an IgG1-bispecific antibody created using Genmab’s proprietary DuoBody technology and administered subcutaneously. Genmab’s DuoBody-CD3 technology is designed to direct cytotoxic T cells selectively to elicit an immune response toward target cell types. Epcoritamab is designed to simultaneously bind to CD3 on T cells and CD20 on B cells and induces T-cell-mediated killing of CD20+ cells.7 Epcoritamab is being co-developed by Genmab and AbbVie as part of the companies’ oncology collaboration. The companies share commercial responsibilities in the U.S. and Japan, with AbbVie responsible for further global commercialization. Both companies will pursue additional international regulatory approvals for the investigational R/R FL indication and additional approvals for the R/R DLBCL indication.

Genmab and AbbVie continue to evaluate the use of epcoritamab as a monotherapy, and in combination, across lines of therapy in a range of hematologic malignancies. This includes five ongoing Phase 3, open-label, randomized trials including a trial evaluating epcoritamab as a monotherapy in patients with R/R DLBCL compared to investigators choice chemotherapy (NCT04628494), a trial evaluating epcoritamab in combination with R-CHOP in adult patients with newly diagnosed DLBCL (NCT05578976), a trial evaluating epcoritamab in combination with rituximab and lenalidomide (R2) in patients with R/R FL (NCT05409066), a trial evaluating epcoritamab in combination with rituximab and lenalidomide (R2) compared to chemoimmunotherapy in patients with previously untreated FL (NCT06191744), and a trial evaluating epcoritamab in combination with lenalidomide compared to chemotherapy infusion in patients with R/R DLBCL (NCT06508658). The safety and efficacy of epcoritamab have not been established for these investigational uses.

EPKINLY (epcoritamab-bysp) U.S. INDICATIONS & IMPORTANT SAFETY INFORMATION

What is EPKINLY?

EPKINLY is a prescription medicine used to treat adults with certain types of diffuse large B-cell lymphoma (DLBCL), high-grade B-cell lymphoma, or follicular lymphoma (FL) that has come back or that did not respond to previous treatment after receiving 2 or more treatments. EPKINLY is approved based on patient response data. Studies are ongoing to confirm the clinical benefit of EPKINLY. It is not known if EPKINLY is safe and effective in children.

IMPORTANT SAFETY INFORMATION

Important Warnings—EPKINLY can cause serious side effects, including:

Cytokine release syndrome (CRS), which is common during treatment with EPKINLY and can be serious or life-threatening. To help reduce your risk of CRS, you will receive EPKINLY on a step-up dosing schedule (when you receive 2 or 3 smaller step-up doses of EPKINLY before your first full dose during your first cycle of treatment), and you may also receive other medicines before and for 3 days after receiving EPKINLY. If your dose of EPKINLY is delayed for any reason, you may need to repeat the step-up dosing schedule.
Neurologic problems that can be serious, and can be life-threatening and lead to death. Neurologic problems may happen days or weeks after you receive EPKINLY.
People with DLBCL or high-grade B-cell lymphoma should be hospitalized for 24 hours after receiving their first full dose of EPKINLY on day 15 of cycle 1 due to the risk of CRS and neurologic problems.

Tell your healthcare provider or get medical help right away if you develop a fever of 100.4°F (38°C) or higher; dizziness or lightheadedness; trouble breathing; chills; fast heartbeat; feeling anxious; headache; confusion; shaking (tremors); problems with balance and movement, such as trouble walking; trouble speaking or writing; confusion and disorientation; drowsiness, tiredness or lack of energy; muscle weakness; seizures; or memory loss. These may be symptoms of CRS or neurologic problems. If you have any symptoms that impair consciousness, do not drive or use heavy machinery or do other dangerous activities until your symptoms go away.

EPKINLY can cause other serious side effects including:

Infections that may lead to death. Your healthcare provider will check you for signs and symptoms of infection before and during treatment and treat you as needed if you develop an infection. You should receive medicines from your healthcare provider before you start treatment to help prevent infection. Tell your healthcare provider right away if you develop any symptoms of infection during treatment, including fever of 100.4°F (38°C) or higher, cough, chest pain, tiredness, shortness of breath, painful rash, sore throat, pain during urination, or feeling weak or generally unwell.
Low blood cell counts, which can be serious or severe. Your healthcare provider will check your blood cell counts during treatment. EPKINLY may cause low blood cell counts, including low white blood cells (neutropenia), which can increase your risk for infection; low red blood cells (anemia), which can cause tiredness and shortness of breath; and low platelets (thrombocytopenia), which can cause bruising or bleeding problems.
Your healthcare provider will monitor you for symptoms of CRS, neurologic problems, infections, and low blood cell counts during treatment with EPKINLY. Your healthcare provider may temporarily stop or completely stop treatment with EPKINLY if you develop certain side effects.

Before you receive EPKINLY, tell your healthcare provider about all your medical conditions, including if you have an infection, are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed. If you receive EPKINLY while pregnant, it may harm your unborn baby. If you are a female who can become pregnant, your healthcare provider should do a pregnancy test before you start treatment with EPKINLY and you should use effective birth control (contraception) during treatment and for 4 months after your last dose of EPKINLY. Tell your healthcare provider if you become pregnant or think that you may be pregnant during treatment with EPKINLY. Do not breastfeed during treatment with EPKINLY and for 4 months after your last dose of EPKINLY.

In DLBCL or high-grade B-cell lymphoma, the most common side effects of EPKINLY include CRS, tiredness, muscle and bone pain, injection site reactions, fever, stomach-area (abdominal) pain, nausea, and diarrhea. The most common severe abnormal laboratory test results include decreased white blood cells, decreased red blood cells, and decreased platelets.

In follicular lymphoma the most common side effects of EPKINLY include injection site reactions, CRS, COVID-19, tiredness, upper respiratory tract infections, muscle and bone pain, rash, diarrhea, fever, cough, and headache. The most common severe abnormal laboratory test results include decreased white blood cells and decreased red blood cells.

These are not all of the possible side effects of EPKINLY. Call your doctor for medical advice about side effects. You are encouraged to report side effects to the FDA at (800) FDA-1088 or www.fda.gov/medwatch or to Genmab US, Inc. at 1-855-4GENMAB (1-855-443-6622).

Mercy BioAnalytics Announces $59 Million Series B Financing to Advance Early Cancer Detection Programs

On September 3, 2025 Mercy BioAnalytics, Inc., a pioneer in extracellular vesicle-based liquid biopsies for the early detection of cancer, reported the closing of a $59 million series B financing (Press release, Mercy BioAnalytics, SEP 3, 2025, View Source [SID1234655738]). The round was co-led by Novalis and Sozo Ventures, with participation from Perceptive Xontogeny Venture Fund, American Cancer Society BrightEdge and iSelect Fund, as well as funds committed to women’s health and leadership including Portfolia, Avestria Ventures, and Mindshift Capital. The round also included significant participation from strategic investors including Hologic, Bruker Scientific, and Labcorp.

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Coincident with the financing, Mercy is pleased to welcome Rob Freelen to the Board of Directors. A Managing Director and investment partner at Sozo Ventures, Mr. Freelen brings a wealth of experience as a seasoned Director, successful entrepreneur and former executive at Silicon Valley Bank. "Sozo is proud to co-lead this round and help usher in a new generation of cancer diagnostics with the potential to save lives at scale."

The financing will support the commercialization of Mercy’s blood-based ovarian cancer test portfolio, designed to detect ovarian cancer at earlier, more treatable stages across multiple indications. The Mercy Halo ovarian cancer screening test exhibits unprecedented sensitivity and specificity for the detection of pre-clinical high grade serous ovarian carcinoma in post-menopausal women based on a blinded evaluation of samples from a randomized controlled trial.

The funds will additionally enable the expansion of the Mercy Halo portfolio, including multi-cancer and lung cancer screening tests.

"This financing accelerates our efforts to bring transformative early cancer detection tests to patients and providers," said Dawn Mattoon, Ph.D., Chief Executive Officer of Mercy. "We are grateful for the support of our investors and proud to partner with those who share our mission to save lives and relieve suffering through the early detection of cancer."

"We believe Mercy is building one of the most promising early detection platforms in oncology," said Paul Meister, Partner at Novalis. "Their technology addresses a critical gap in current cancer screening, and we’re excited to support the team as they continue to deliver on critical regulatory, clinical, and commercial milestones."

FDA grants HERNEXEOS® Breakthrough Therapy Designation for first line use in HER2 (ERBB2)-mutant advanced NSCLC

On September 3, 2025 Boehringer Ingelheim reported HERNEXEOS (zongertinib tablets) has been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration (FDA) for first-line treatment of adult patients with unresectable or metastatic non-squamous non-small cell lung cancer (NSCLC) whose tumors have HER2 (ERBB2) tyrosine kinase domain activating mutations (Press release, Boehringer Ingelheim, SEP 3, 2025, View Source [SID1234655737]).

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"Exploring accelerated review pathways is part of Boehringer’s strategy to have an unprecedented and generational impact on people facing cancer. We are incredibly pleased that HERNEXEOS has received Breakthrough Therapy Designation for first-line use in patients living with HER2-mutant non-small cell lung cancer," said Vicky Brown, Senior Vice President and Head of Immunology, Oncology, and Eye Health, Boehringer Ingelheim. "This pathway was designed to expedite the development and review of promising medicines for serious diseases, and clearly highlights the potential of HERNEXEOS."

Breakthrough Therapy Designation is given to expedite the development and review of medicines for serious conditions where preliminary clinical evidence indicates that the medicine may demonstrate substantial improvement over currently available therapies.

HERNEXEOS was recently approved by the U.S. FDA for adult patients with unresectable or metastatic non-squamous NSCLC whose tumors have HER2 (ERBB2) tyrosine kinase domain (TKD) activating mutations, as detected by an FDA-approved test, and who have received prior systemic therapy. This indication is approved under accelerated approval based on objective response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial.

Boehringer will present new and updated HERNEXEOS data at the upcoming World Conference on Lung Cancer (WCLC) in September and European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) in October.

About HERNEXEOS
HERNEXEOS is an irreversible tyrosine kinase inhibitor (TKI) that selectively inhibits HER2 while sparing wild-type EGFR, thereby limiting associated toxicities. Boehringer Ingelheim is investigating HERNEXEOS across a range of advanced solid tumors with HER2 alterations.

The therapy was conditionally approved for use as a monotherapy by China’s National Medical Products Administration (NMPA) for the treatment of adult patients with unresectable, locally advanced or metastatic NSCLC whose tumors have activating HER2 (ERBB2) mutations and who have received at least one line of prior systemic therapy. It also recently received Breakthrough Therapy Designation from the Center for Drug Evaluation (CDE) of China’s NMPA for the first line treatment of adult patients with unresectable or metastatic NSCLC harboring activating mutations in the HER2 TKD. This orally administered, targeted therapy has also been granted Orphan Drug Designation in Japan.

About non-small cell lung cancer (NSCLC)
Lung cancer claims more lives than any other cancer type and the incidence is set to increase to over 3 million cases worldwide by 2040.1,2 NSCLC is the most common type of lung cancer.3 Due to a lack of symptoms and misdiagnoses,4 most patients with NSCLC present at stage III or IV, where the disease has metastasized locally or to other organs.5 The estimated 5-year survival rate historically has been less than 10% for metastatic disease.6,7,8 People living with advanced NSCLC can experience a detrimental physical, psychological, and emotional impact on their daily lives.9,10,11

About the Beamion clinical trial program
Beamion LUNG-1 (NCT04886804): An open-label, Phase I dose escalation trial, with dose confirmation and expansion, of zongertinib as monotherapy in people with unresectable or metastatic solid tumors with HER2 alterations. The study has 2 parts. The first part is open to adults with different types of advanced cancer with HER2 alterations that include mutations, amplifications, over-expression and fusions for whom previous treatment was not successful. The second part is open to people with HER2-mutant non-small cell lung cancer.

Beamion LUNG-2 is a Phase III, open label, randomized, active-controlled study that will enroll 416 patients with unresectable, or metastatic non-squamous NSCLC harboring HER2 tyrosine kinase domain mutations to evaluate zongertinib compared with standard of care.