Precision designed science for cancer patients

On February 23, 2026 PDS Biotechnology presented its corporate presentation.

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(Press release, PDS Biotechnology, FEB 23, 2026, View Source [SID1234662857])

Astellas and Vir Biotechnology Announce Global Strategic Collaboration to Advance PSMA-targeting PRO-XTEN® Dual-masked T-Cell Engager VIR-5500 for the Treatment of Prostate Cancer

On February 23, 2026 Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, "Astellas") and Vir Biotechnology, Inc. (Nasdaq: VIR) reported they have entered into a global strategic collaboration to advance VIR-5500, an investigational PRO-XTEN dual-masked CD3 T-cell engager (TCE) targeting PSMA for the treatment of prostate cancer. The collaboration aims to accelerate the development of VIR-5500 and further strengthen Astellas’ oncology pipeline and prostate cancer leadership.

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Adam Pearson, Chief Strategy Officer, Astellas
"Astellas is proud to have helped 1.5 million patients with prostate cancer, and we are dedicated to expanding our impact as part of our R&D strategy. Our deep expertise in this disease area, combined with a growing immuno-oncology (IO) pipeline of biologics, including T-cell engagers, uniquely positions us to help advance VIR-5500, a potentially best-in-class T-cell engager for prostate cancer. This strategic collaboration allows Astellas and Vir Biotechnology to combine our expertise and reaffirms our commitment to improving the lives of people with prostate cancer."

Marianne De Backer, M.Sc., Ph.D., MBA, Chief Executive Officer, Vir Biotechnology
"Astellas is an ideal collaborator for the VIR-5500 program given the company’s successful track record advancing therapies across the treatment continuum, building blockbuster franchises and delivering value to patients through strategic development alliances with other biotech partners. This collaboration will enable more rapid advancement of VIR-5500 to potentially benefit more people living with prostate cancer. We believe this collaboration reflects confidence in our PRO-XTEN platform, which has broad potential across multiple solid tumor indications."

Despite recent advances in treatment, prostate cancer, especially metastatic castration-resistant prostate cancer (mCRPC), remains an aggressive and difficult cancer to treat; mCRPC has a 5-year survival rate of approximately 30%.i Patients who progress to mCRPC develop therapeutic resistance and currently have limited treatment options.

VIR-5500 is a potential best-in-class dual-masked Prostate-Specific Membrane Antigen (PSMA)-targeting TCE and is currently in Phase 1 development for people with advanced, metastatic prostate cancer (NCT05997615). VIR-5500 combines a bispecific PSMA and CD3 binding TCE with the PRO-XTEN masking technology, which is designed to keep the TCEs masked (or inactive) until they reach the tumor microenvironment, reducing off-target effects and improving the therapeutic index.

Under the terms of the agreement, Vir Biotechnology will receive $335 million in upfront and near-term payments, including $240 million in cash, $75 million in equity investment at a 50% premium,ii and a near-term $20 million milestone. Global development costs for VIR-5500 will be shared, with Astellas responsible for 60% and Vir Biotechnology responsible for 40% of all costs. Vir Biotechnology will continue the ongoing Phase 1 trial, until responsibility is transitioned to Astellas, after which Astellas will be responsible for all development activities. In the U.S., Vir Biotechnology will have the option to co-promote VIR-5500 with Astellas, and profit/loss will be shared equally. Outside the U.S., Astellas will be exclusively responsible for commercialization of VIR-5500. In addition, Vir Biotechnology is eligible to receive up to $1.37 billion in development, regulatory and sales milestones, along with tiered, double-digit royalties on ex-U.S. net sales. Under the terms of Vir Biotechnology’s licensing agreement with Sanofi, a portion of certain collaboration proceeds will be shared with Sanofi.

Lazard acted as Vir Biotechnology’s exclusive financial advisor. Closing of the transaction is contingent on customary closing conditions, including clearance under the Hart-Scott-Rodino (HSR) Act.

(Press release, Astellas, FEB 23, 2026, View Source [SID1234662874])

TARA-002 Demonstrates 68% Complete Response Rate at Six Months in BCG-Unresponsive Non-Muscle Invasive Bladder Cancer

On February 23, 2026 Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases, reported updated interim results from its ongoing Phase 2 open-label ADVANCED-2 trial assessing intravesical TARA-002, the Company’s investigational cell-based therapy, in patients with high-risk Non-Muscle Invasive Bladder Cancer (NMIBC) with carcinoma in situ or CIS (± Ta/T1) who are Bacillus Calmette-Guérin (BCG)-Unresponsive or BCG-Naïve. These results will be featured on Friday, February 27, 2026 during poster sessions at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Genitourinary Cancers Symposium in San Francisco.

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"These interim data are highly encouraging with respect to TARA-002’s efficacy and safety," said Raj Satkunasivam, MD, MS, FRCSC, Urologic Oncologist, Associate Professor at Houston Methodist Hospital and ADVANCED-2 study investigator. "The results in the BCG-Unresponsive cohort demonstrate compelling six-month response rates with maturing 12-month data showing promising signals of durability. These clinically meaningful response rates and favorable tolerability profile make TARA-002 a potentially promising treatment option."

"TARA-002 continues to demonstrate impressive and durable response rates with excellent safety and tolerability," said Neal Shore, MD, FACS, Medical Director of the START Carolinas/Carolina Urologic Research Center. "These results, coupled with a clean safety profile and a simple, streamlined administration for both physicians and patients, make TARA-002 a potentially innovative new therapy for urologists, particularly those in busy community practices."

Updated Interim Results

BCG-Unresponsive Cohort

The interim analysis of the BCG-Unresponsive cohort includes 35 evaluable participants, of whom, 22 were evaluable at six months and 15 were evaluable at 12 months as of a January 28, 2026 data cutoff.

The CR rate at any time was 65.7% (23 of 35)
The CR rate was 68.2% (15 of 22) at six months and 33.3% (5 of 15) at 12 months
Among responders:
The Kaplan-Meier (KM) estimated probability of maintaining a CR for six months was 71.1% (95% CI: 46.7, 95.5)
100% (5 of 5) maintained their CR from nine to 12 months
61.5% (8 of 13) of re-induced patients converted to a CR at six months
BCG-Naïve Cohort

The interim analysis of the BCG-Naïve cohort includes 29 evaluable participants, 27 of whom, were evaluable at six months and 19 were evaluable at 12 months as of a January 28, 2026 data cutoff.

The CR rate at any time was 72.4% (21 of 29)
The CR rate was 66.7% (18 of 27) at six months and 57.9% (11 of 19) at 12 months
Among responders:
The KM estimated probability of maintaining a CR for six months was 73.1% (95% CI: 52.9, 93.4)
100% (11 of 11) maintained their CR from nine to 12 months
66.7% (4 of 6) of re-induced patients converted to a CR at six months
Safety and Tolerability

The majority of treatment-related adverse events (TRAEs) were Grade 1 and transient with no Grade 3 or greater TRAEs and no related serious adverse events as assessed by study investigators. No patients discontinued treatment due to TRAEs. The most common TRAEs were dysuria, bladder spasm, fatigue and micturition urgency. Most bladder irritations resolved shortly after administration or within a few hours to a few days.

"The data generated to date in these high-risk NMIBC patient populations highlight TARA-002’s potential as a meaningful addition to the treatment landscape," said Jesse Shefferman, Chief Executive Officer of Protara Therapeutics. "In addition to demonstrating impressive efficacy and safety, TARA-002 overcomes the limitations of existing NMIBC treatments that burden patients as well as urologists and their practices. We look forward to continuing to advance TARA-002’s clinical development as we work to bring this treatment to patients."

Next Steps

Protara expects to complete enrollment of the BCG-Unresponsive registrational cohort of the ADVANCED-2 trial in the second half of 2026. Enrollment is complete in the BCG-Naïve cohort of the ADVANCED-2 trial with 31 patients, and the Company remains on track to initiate the ADVANCED-3 registrational trial in BCG-Naïve patients in the second half of 2026.

Conference Call and Webcast

Protara will host a conference call and webcast tomorrow at 8:00 a.m. ET to review the data reported this evening. Neal Shore, MD, FACS, Medical Director of the Carolina Urologic Research Center will join management for the discussion. The live event and accompanying slides can be accessed by visiting View Source, or via the Events and Presentations section of the Company’s website: View Source A replay of the webcast will be archived for a limited time following the event.

About ADVANCED-2

ADVANCED-2 (NCT05951179) is a Phase 2 open-label trial assessing intravesical TARA-002 in NMIBC patients with carcinoma in situ or CIS (± Ta/T1) who are Bacillus Calmette-Guérin (BCG)-Unresponsive (Cohort B N=75-100) or BCG-Naïve (Cohort A N=31). Trial subjects receive an induction course, with or without a reinduction, of six weekly intravesical instillations of TARA-002, followed by a maintenance course of three weekly instillations every three months.

About TARA-002

TARA-002 is an investigational cell therapy in development for the treatment of NMIBC and of LMs, for which it has been granted Rare Pediatric Disease, Breakthrough and Fast Track Designations by the U.S. Food and Drug Administration. TARA-002 is a first-in-class TLR2/NOD2 agonist and novel immunopotentiator derived from inactivated Streptococcus pyogenes with a mechanism of action that includes the activation of innate and adaptive immune pathways. When TARA-002 is administered, it is hypothesized that innate and adaptive immune cells within the cyst or tumor are activated and produce a pro-inflammatory response with release of cytokines such as tumor necrosis factor (TNF)-alpha, interferon (IFN)-gamma, IL-6, IL-10 and IL-12. TARA-002 also directly kills tumor cells and triggers a host immune response by inducing immunogenic cell death, which further enhances the antitumor immune response.

TARA-002 was developed from the same master cell bank of genetically distinct group A Streptococcus pyogenes as OK-432, a broad immunopotentiator marketed as Picibanil in Japan by Chugai Pharmaceutical Co., Ltd. Protara has successfully shown manufacturing comparability between TARA-002 and OK-432.

About Non-Muscle Invasive Bladder Cancer (NMIBC)

Bladder cancer is the sixth most common cancer in the United States, with NMIBC representing approximately 80% of bladder cancer diagnoses, representing approximately 65,000 patients in the U.S. each year. NMIBC is cancer found in the tissue that lines the inner surface of the bladder that has not spread into the bladder muscle.

(Press release, Protara Therapeutics, FEB 23, 2026, View Source [SID1234662858])

TransCode Therapeutics Announces Publication of Preclinical Testing of RIG-I Immunotherapeutic Candidate Supporting Further Development

On February 23, 2026 TransCode Therapeutics, Inc. (NASDAQ: RNAZ), a clinical stage company pioneering immuno-oncology and RNA therapeutics for the treatment of high risk and advanced cancers, reported the publication of a manuscript titled Template-Directed RIG-I Agonist Assembly for Image-guided Targeted Cancer Immunotherapy in the journal Molecular Imaging and Biology. The paper, published February 19, 2026, reports on a novel tumor-selective immunotherapy approach that activates innate immune signaling specifically within cancer cells while enabling non-invasive imaging of drug delivery. The study was carried out in collaboration with Dr. Anna Moore, Professor, Director of the Precision Health Program, and Associate Dean for Research Development at the College of Human Medicine at Michigan State University and scientific co-founder of TransCode.

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The data describe a template-driven RIG-I agonist strategy to selectively activate retinoic acid-inducible gene I (RIG-I) signaling inside tumor cells by leveraging overexpressed oncogenic microRNAs, such as miRNA-21, as intracellular assembly templates. This approach directly addresses longstanding challenges associated with RIG-I agonists, including off-target immune activation and inefficient systemic delivery.

"Our findings demonstrate a novel approach to precisely engage innate immune pathways directly within tumor cells, while minimizing systemic toxicity," said Zdravka Medarova, Ph.D., CSO of TransCode. "We believe that combining tumor-specific RNA templating with our TTX nanoparticle delivery platform brings RIG-I-based immunotherapy closer to clinical relevance." TransCode’s TTX delivery platform is currently being evaluated in clinical trials, underscoring the translational feasibility of this immunotherapy approach.

Molecular Imaging and Biology is a peer-reviewed scientific journal and the official publication of the World Molecular Imaging Society, focused on translational research in molecular imaging and image-guided therapies with clinical and commercial relevance.

(Press release, TransCode Therapeutics, FEB 23, 2026, View Source [SID1234662875])

Harbour BioMed Announces License Agreement and Equity Partnership for a Clinical Stage Antibody

On February 23, 2026 Harbour BioMed (HKEX: 02142), a global biopharmaceutical company committed to the discovery and development of novel antibody therapeutics in immunology and oncology, reported a license agreement and equity partnership with Solstice Oncology, a clinical stage biotechnology company established by a syndicate of major venture capital investors, for the exclusive development and commercialization of a clinical stage portfolio asset HBM4003 outside Greater China.

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Under the terms of the license agreement, Harbour BioMed will receive upfront consideration valued at over $105 million, comprised of $50 million in upfront payments, $5 million in near-term cash payments and over $50 million of equity in Solstice. Harbour BioMed is also eligible for additional development, regulatory and commercial milestones up to approximately $1.1 billion, contingent on the achievement of certain future events, and tiered royalties on net sales outside Greater China.

"Harbour BioMed has built a significant reputation in the discovery and development novel therapeutic antibodies," said Dr. Jingsong Wang, Founder, Chairman and CEO of Harbour BioMed. "This partnership is a reflection of that experience, and the structure goes beyond a traditional licensing transaction. By co-founding a company along with others and becoming a shareholder, we are participating in the building of a global biotechnology company alongside experienced investors, focused on the development of HBM4003, one of our leading antibody programs. This structure enables long-term value creation while allowing Harbour BioMed to remain engaged in advancing the asset toward global development."

(Press release, Harbour BioMed, FEB 23, 2026, View Source [SID1234670662])