Ribon Therapeutics Ends Operations, Sells PARP Inhibitors

After operating for over ten years, the biotech startup Ribon Therapeutics has terminated operations. It was launched in 2015. In May 2024, the firm declared its closure and put its assets up for online auction, including its clinical development projects and intellectual property. In connection with an ongoing agreement, Boehringer Ingelheim owed Ribon a number of deferred and dependent milestone payments, which the company listed for sale. The deal was to be handled by Rock Creek Advisors on behalf of Ankara Trust Company.

Three PARP inhibitors were being developed by Ribon for different applications. RBN-2397, the most developed candidate, was created for squamous cell lung cancer in conjunction with Merck's Keytruda. The goal of the oral medication option is to inhibit the PARP7 protein, which cells produce in excess while under stress. The medication candidate elicited a rise in type I interferon response and immune cells, and phase I results published at the 2021 American Society of Clinical Oncology Annual Meeting demonstrated that it was generally safe and well-tolerated.

Additionally, Ribon was developing RBN-3143, a PARP14 inhibitor intended for moderate-to-severe atopic dermatitis. The biotech executed a $65 million financing deal in November 2022, obtained a $25 million equity investment from Pfizer in January 2023, and licensed its preclinical CD38 program to Boehringer Ingelheim.