On January 26, 2026 Fortitude Biomedicines, Inc., (Fortitude) a leading biopharmaceutical company focused on immune cell targeting biologics and molecular glue payload–enabled antibody–drug conjugates (ADCs) for the treatment of a wide range of autoimmune diseases and cancers, reported the Company’s launch following closing of a $13 million Seed financing, co-led by K2 Bio Partners, Shanghai Healthcare Angel Capital (SHAC), and Elikon Venture, with additional investment from Everjoy Fortune and Taihill Venture.

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Proceeds from the financing will support the Company’s lead immune cell targeting biologic program through Investigational New Drug (IND) enabling studies. Additionally, Fortitude is harnessing the power of its GLUE-DACTM drug discovery engine to advance other pipeline therapeutics for oncology and autoimmune diseases. GLUE-DACTM is a next-generation antibody–drug conjugate (ADC) platform powered by proprietary molecular glue payloads. Originally developed in Professor Jin Wang’s research laboratory at Baylor College of Medicine, GLUE-DACTM integrates the precision targeting of ADCs with the catalytic power of targeted protein degradation. GLUE-DACTM has the potential to expand the therapeutic window of ADCs, overcome resistance mechanisms, and unlock new therapeutic targets.

Fortitude was co-founded by serial entrepreneur, Jesse Chen, Ph.D., who previously co-founded both TRIANA Biomedicines and Avilar Therapeutics, and Professor Jin Wang, Ph.D., Director at Center for NexGen Therapeutics and Michael E. DeBakey, M.D. Endowed Professor in Pharmacology at Baylor College of Medicine. Dr. Chen will serve as President and CEO to lead the company’s research and business operations. Before launching Fortitude, he served as Chief Technology Officer at TRIANA Biomedicines and brings nearly two decades of discovery research and management experience, spanning early discovery through preclinical development.

Dr. Chen serves on Fortitude’s Board of Directors alongside independent Chair of the Board, Tim Noyes, President and CEO of Newleos Therapeutics, and institutional director Yunhai Wang, Ph.D., Managing Partner at K2 Bio Partners.

"Fortitude is at the forefront of a new era in therapeutic innovation. With proprietary antibody-based technology, we are unlocking the ability to precisely target diseases while engaging the body’s own biology in powerful, transformative ways," said Dr. Jesse Chen, President and CEO of Fortitude. "GLUE-DACTM is a powerful modality that aims to redefine precision medicines and bring new hope to patients."

"Resistance is increasingly emerging as a challenge in the current ADC therapeutic landscape. The field urgently needs payloads with distinct mechanisms of action. GLUE-DACTM technology meets this unmet need by combining the validated delivery capabilities of antibodies with the transformative potential of targeted protein degradation," said Dr. Jin Wang, Professor in Pharmacology at Baylor College of Medicine. "I am thrilled to work with Fortitude to advance their novel platform and be part of their mission to deliver a new generation of effective therapies for patients."

"Fortitude Biomedicines is dedicated to developing next-generation biologics and ADC technology for immunotherapy and oncology therapy. The founding team brings a strong global perspective, with deep expertise and a proven track record across translational research, drug development, and clinical execution. K2 Bio Partners has been conducting systematic research in the immunotherapy and oncology space and highly recognizes Fortitude’s scientific vision, differentiated technology approach, and leading position in this field," said Dr. Yunhai Wang, Managing Partner at K2 Bio Partners. "We believe that Fortitude has the potential to become a leading international enterprise in immunotherapy and oncology treatment. We look forward to working closely with the company to accelerate the development of its pipeline and bring benefits to patients worldwide."

"Fortitude employs a unique platform to develop novel payloads for antibody-drug conjugates, addressing resistance seen with conventional ADCs and extending this modality to autoimmune diseases, which is a meaningful and transformative effort for the current therapeutic landscape," said Samuel Guo, Partner of SHAC. "With the seasoned team led by Dr. Chen, we are highly confident in advancing the development of potential life-changing therapies."

(Press release, Fortitude Biomedicines, JAN 26, 2026, View Source [SID1234662222])

On January 23, 2026 Privo Technologies, Inc. reported the successful completion of its Phase 1/2 clinical evaluation of PRV211, a first-in-class intraoperative chemotherapy patch for head and neck cancer patients. The study demonstrated excellent safety outcomes across all eight patients, positioning PRV211 as a promising approach to preventing cancer recurrence at the surgical site.

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Key Study Results:

Zero treatment-related serious adverse events (just one reported mild burning sensation while healing)

No systemic toxicities or dose-limiting toxicities

Normal wound healing with no surgical complications

Negligible systemic absorption confirming targeted delivery

Seamless integration into standard surgical procedures
Innovative Approach

PRV211 is applied directly to the tumor bed following surgical resection to address microscopic cancer cells that may remain in surgical margins. The nanoengineered patch delivers localized chemotherapy when tissue barriers are removed and access is optimal.

"This study represents an important step forward in our approach to cancer surgery," said Dr. Manijeh Goldberg, PhD, Founder and CEO of Privo Technologies. "PRV211 is customized medicine that enables surgeons to deliver targeted treatment precisely where recurrence risk is highest."

Addressing Clinical Need

Post-surgical recurrence remains a significant challenge in head and neck cancer. The study enrolled patients with invasive tumors (T1 – T4) requiring surgical excision, including advanced-stage cases requiring reconstructive surgery. PRV211’s targeted approach delivers chemotherapy directly to the surgical site with minimal systemic exposure.

Program Progress

PRV211 represents Arm 2 of Privo’s CLN-004 clinical program. Combined with Arm 1’s achievement of its primary efficacy endpoint and Arm 3’s dosing initiation, the program demonstrates continued progress in localized cancer therapy development.

Next Steps

Patients will be monitored for efficacy outcomes, including loco-regional recurrence at 12 months post-surgery. A future expansion study is planned to further evaluate PRV211’s potential to reduce cancer recurrence.

(Press release, Privo Technologies, JAN 23, 2026, View Source [SID1234662201])

On January 23, 2026 Adagene Inc. ("Adagene") (Nasdaq: ADAG), a company transforming the discovery and development of novel antibody-based therapies, reported year-end unaudited cash and cash equivalents of $74.5 million and provided a business update.

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2025 Key Accomplishments:

· Phase 1b/2 trial results with muzastotug in MSS CRC at ASCO (Free ASCO Whitepaper): Shared updated data from 10 mg/kg and 20 mg/kg cohorts at ASCO (Free ASCO Whitepaper) 2025, demonstrating a favorable safety profile at 10-20x times higher dosing than first generation CTLA-4 inhibitors. Encouraging overall response rates and durable responses suggest potential for long-term survival benefit.

· FDA Fast Track designation for muzastotug in combination with Merck’s (known as MSD outside of the United States and Canada) anti-PD-1 therapy, KEYTRUDA (pembrolizumab), for adult patients with microsatellite stable metastatic colorectal cancer (MSS CRC) without current or active liver metastases.

· Regulatory alignment with FDA End-of-Phase 1 meeting, clarifying dose selection, trial design, patient population and endpoints for Phase 2 and Phase 3 with muzastotug.

· Initiated randomized Phase 2 dose-optimization study with muzastotug; first patient dosed in October 2025.

· Strategic Partnerships and Collaborations:

o Sanofi: Secured a strategic investment of up to $25 million to support muzastotug’s randomized Phase 2 study. Separately, Adagene will supply Sanofi with muzastotug to evaluate the safety, efficacy, pharmacokinetics and biomarker data in combination with other anticancer therapies in over 100 patients in a Phase 1/2 clinical trial in advanced solid tumors. Sanofi also exercised its option for a third SAFEbody discovery program.

o Third Arc Bio: Partnered to develop two masked CD3 T cell engagers, expanding SAFEbody into next-generation T cell therapies.

o Exelixis: Advanced a third masked ADC against a solid tumor target, building on the 2021 collaboration.

o ConjugateBio: Collaborated on bispecific ADCs using Adagene-derived antibody, further demonstrating scalable platform potential.

As of December 31, 2025, the Company had unaudited cash and cash equivalents of $74.5 million, which is anticipated to provide sufficient runway until late 2027. Such amount of cash and cash equivalents is preliminary, unaudited and subject to finalization. This financial information should not be viewed as a substitute for the audited financial statements prepared in accordance with US GAAP and is not incorporated into any Adagene’s filings with the U.S. Securities and Exchange Commission.

2026 Objectives:

· Q1 2026: Data update from the ongoing Phase 1b/2 study of muzastotug + pembrolizumab in 3L+ MSS CRC, including 41 patients in the 10 mg/kg cohorts and 26 patients in the 20 mg/kg cohorts.

· Complete enrollment of the ongoing randomized Phase 2 dose-optimization study with muzastotug, which is being conducted in alignment with FDA Project Optimus, and designed to allow dose regimen selection for Phase 3.

· Provide preliminary clinical data, including pathological responses, to inform future development from investigator-initiated Phase 2 trial for neoadjuvant muzastotug + pembrolizumab in colorectal cancer.

· Provide initial clinical data from a new cohort of patients in the ongoing Phase 1b/2 study of muzastotug + pembrolizumab in combination with standard of care (fruquintinib) in MSS CRC patients.

· Share results of the clinical trial collaboration with Roche, which evaluates muzastotug in triplet combination with atezolizumab and bevacizumab in first-line treatment of locally advanced or metastatic hepatocellular carcinoma (HCC; liver cancer).

· Establish additional collaboration/licensing agreements.

Peter Luo, Ph.D., CEO and President of R&D at Adagene said, "Our strategy for muzastotug is grounded in Nobel Prize-recognized advances in regulatory T cell biology, which have fundamentally reshaped our understanding of immune suppression in cancer. We have translated these foundational insights into a clinical action plan for intratumoral T reg modulation that integrates mechanistic innovation with emerging clinical evidence and regulatory momentum. In 2026, we hope new data will demonstrate muzastotug’s broad applicability, positioning it as a potentially transformative next-generation backbone therapy that can be used in combination across multiple indications."

(Press release, Adagene, JAN 23, 2026, View Source [SID1234662186])

On January 23, 2026 AIM ImmunoTech Inc. (NYSE American: AIM) – AIM ImmunoTech Inc. ("AIM" or the "Company"), an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders and viral diseases, reported an informational update to its security holders regarding its proposed rights offering (the "Rights Offering") and the expected key dates and terms relative to the Rights Offering. Assuming that the Rights Offering is fully subscribed, the Company will receive gross proceeds of $12 million, less expenses related to the Rights Offering.

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The Company is distributing to all holders of record of its common stock, par value $0.001 (the "Common Stock"), and to holders of certain options and warrants that have the right to participate in the Rights Offering (the "Participating Securities"), as of 5:00 p.m., Eastern Time, on February 4, 2026 (the "Record Date"), for each share of the Common Stock and each Participating Security, one non-transferable subscription right (a "Subscription Right") to purchase one unit, at a subscription price of $1,000 per unit. Each unit consists of one share of Series G Convertible Preferred Stock (the "Preferred Stock") and warrants to purchase 1,492 shares of Common Stock (the "Warrants"). Each share of Preferred Stock will be convertible, at the option of the holder at any time, into a number of shares of Common Stock equal to the quotient of the stated value of the Preferred Stock ($1,000) divided by the conversion price (initially, $1.34 per share). Each Warrant will be exercisable for one share of Common Stock at an exercise price of $1.34 per share from the date of issuance through its expiration five years from the date of issuance. The Preferred Stock and the Warrants will separate upon the expiration of the Rights Offering and will be issued separately but may only be purchased as a subscription, and the subscriptions will not trade as a separate security. The subscriptions will not be tradable.

The Subscription Rights will be non-transferable and may only be exercised during the anticipated subscription period of Thursday, February 5, 2026 through 5:00 PM ET on Monday, February 23, 2026, unless extended by AIM.

The expected calendar for the Rights Offering is as follows:

February 3, 2026: Ownership Day – in order to be considered a stockholder of record on February 4, 2026, shares should be acquired by this date (open market purchases of Common Stock should be completed by February 3 to be considered a stockholder of record on the Record Date).
February 4, 2026: Record Date (5:00 p.m. Eastern Time)
February 5, 2026: Distribution Date; Subscription Period Begins
February 23, 2026: Subscription Period Ends 5:00 p.m. Eastern Time
The Rights Offering will include an over-subscription privilege which permits each holder of Subscription Rights that exercises such holder’s basic Subscription Right in full to purchase additional subscriptions (if any) that remain unsubscribed at the expiration of the Rights Offering. The availability of the over-subscription privilege will be subject to certain terms and restrictions set forth in the prospectus. If the aggregate subscriptions (basic subscriptions plus over-subscriptions) exceed the number of subscriptions offered in the Rights Offering, then the aggregate over-subscription amount will be pro-rated among the holders exercising their respective over-subscription privileges (in proportion to the number of subscriptions held after giving effect to all basic subscriptions).

Certain of AIM’s leadership have indicated to the Company on a non-binding basis that they intend to participate in the Rights Offering, including Board member and Chief Executive Officer Thomas K. Equels.

The Company intends to use the net proceeds from the exercise of subscriptions for general corporate purposes – including clinical trial expenses and manufacturing expenses associated with prospective Phase 2/3 pancreatic cancer trials – and allocate a portion of the net proceeds to repay, according to their terms, certain existing debt obligations.

The Rights Offering will expire at 5:00 p.m., Eastern Time, on Monday, February 23, 2026, unless it is extended or earlier terminated by the Company, If the Company elects to extend the Rights Offering, it will issue a press release announcing the extension no later than 9:00 a.m., Eastern Time, on the next business day after the most recently announced expiration date of the Rights Offering. The Company may extend the Rights Offering for additional periods in its sole discretion for any reason up to an additional 45 days. Once made, all exercises of subscriptions are irrevocable.

The Company expects that Broadridge Corporate Issuer Solutions, LLC, the information agent for the Rights Offering, will mail rights certificates and a copy of the prospectus for the Rights Offering to holders of record of Common Stock and Participating Securities as of the Record Date beginning on or about February 5, 2026. Holders of securities held in "street name" through a brokerage account, bank or other nominee will not receive physical rights certificates and must instruct their broker, bank or other nominee whether to exercise Subscription Rights on their behalf. For any questions or further information about the Rights Offering, please call Broadridge Corporate Issuer Solutions, LLC, the information agent for the Rights Offering, at (855) 793-5068 or via email at [email protected].

Neither the Company nor its Board of Directors has made or will make any recommendation to holders regarding the exercise of subscriptions. Holders should make an independent investment decision about whether or not to exercise their subscriptions based on their own assessment of the Company’s business and the Rights Offering.

A registration statement (Registration No. 333- 292085) relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The Rights Offering, which is expected to commence following the effectiveness of the registration statement, is being made only by means of a written prospectus. A preliminary prospectus relating to and describing the proposed terms of the Rights Offering has been filed with the SEC as a part of the registration statement and is available on the SEC’s website at View Source Copies of the preliminary and final prospectuses for the Rights Offering may be obtained, when available, from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, Attention Syndicate Department, email: [email protected] or telephone (212) 895-3745.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Maxim Group LLC is acting as the dealer-manager in connection with the Rights Offering.

(Press release, AIM ImmunoTech, JAN 23, 2026, View Source [SID1234662187])

On January 23, 2026 Corvus Pharmaceuticals, Inc. (Nasdaq: CRVS), a clinical-stage biopharmaceutical company, reported the closing of an upsized underwritten public offering of 9,085,778 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 1,185,101 additional shares, at a price to the public of $22.15 per share. Gross proceeds from the underwritten public offering before deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $201.2 million, including proceeds from the full exercise of the underwriters’ option to purchase additional shares. All of the shares of common stock were offered by Corvus.

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Corvus currently expects to use the net proceeds from this offering for working capital and general corporate purposes, which may include capital expenditures and research and development, including for its Phase 3 T cell lymphoma, and Phase 2 atopic dermatitis, hidradenitis suppurativa and asthma clinical trials, sales and marketing and administrative expenses.

Jefferies and Goldman Sachs & Co. LLC acted as lead book-running managers for the offering. Mizuho acted as bookrunner for the offering. Ladenburg Thalmann acted as co-manager for the offering.

A shelf registration statement on Form S-3 (File No. 333-281318) relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission ("SEC") on August 15, 2024 and a related registration statement that was filed with the SEC on January 21, 2026 pursuant to Rule 462(b) under the Securities Act of 1933 (and became automatically effective upon filing). The offering of these securities was made only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statements. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and is available on the SEC’s website at www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at 1-877-821-7388, or by email at [email protected]; and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

(Press release, Corvus Pharmaceuticals, JAN 23, 2026, View Source [SID1234662188])