Palleon Pharmaceuticals Announces IND Clearance for First-in-Class Cancer Immunotherapy Leveraging Glyco-Immunology

Palleon Pharmaceuticals, a company pioneering the field of glyco-immunology to treat cancer and inflammatory diseases, today announced that the U.S. Food and Drug Administration has cleared the company's investigational new drug (IND) application for its lead candidate E-602. This clearance paves the way for Palleon's first-in-class cancer immunotherapy which targets immunosuppressive sialoglycans to enter clinical testing.

"We are proud to have reached this milestone in advancing glyco-immunology from a promising, nascent scientific field to an entirely new class of medicines," said Jim Broderick, M.D., Chief Executive Officer and Founder of Palleon. "We continue to leverage our unrivaled expertise in glycobiology drug discovery and development to expand our product pipeline in the pursuit of better therapies for patients with cancer and inflammatory diseases."

E-602 is a first-in-class engineered human sialidase enzyme genetic fusion from Palleon's EAGLE platform which is designed to desialylate both immune cells and tumor cells, potentiating an anti-tumor immune response. Palleon's Phase 1/2 trial of E-602 is expected to begin enrolling patients with solid tumors refractory to standard of care in Q1 2022.

About Palleon Pharmaceuticals

Palleon Pharmaceuticals is the leading biotechnology company developing drugs that harness glyco-immunology to treat cancer and inflammatory diseases. The company's proprietary platforms overcome scientific hurdles that limited progress in the glycobiology field to create novel therapeutics for devastating diseases characterized by immune system dysfunction. Palleon's lead program in oncology, E-602, is an enzymatic degrader of immunosuppressive sialoglycans on tumors and immune cells which is expected to enter clinical testing in refractory cancer patients in early 2022. www.palleonpharma.com.