Tempest Completes CAR-T Acquisition And Financing Deal To Expand Oncology Pipeline, Strengthens Cell Therapy Portfolio

Tempest Therapeutics has completed a previously announced all-stock transaction in which it acquired several dual-targeting CAR-T programs and secured financing backing from Factor Bioscience and its affiliates. The deal expands Tempest’s oncology pipeline with both clinical-stage and early research assets while strengthening its cash position to support development through multiple upcoming milestones.

“I am excited to join the Tempest team and to have the opportunity to develop this innovative pipeline of potential therapies to treat a range of solid tumors and hematologic malignancies,” said Dr. Matt Angel, President and Chief Executive Officer of Tempest. “I look forward to advancing the company’s vision of bringing important therapies to patients.”

The company reiterated that amezalpat (TPST-1120) remains ready for Phase 3 testing in first-line hepatocellular carcinoma, backed by encouraging Phase 2 data and global regulatory alignment. Tempest plans to explore business development partnerships to help advance this programme into pivotal trials.

“The Board is pleased to announce the closing of this transaction, which not only provides increased financial stability for Tempest, but also the opportunity for potentially significant milestones over the next 12-18 months from both the legacy small molecule programs and the new cell therapy assets,” said Stephen Brady, Chair of the Board.

Among the newly added assets is TPST-2003, a dual-targeting CD19/BCMA CAR-T therapy. Phase 1 testing in relapsed or refractory multiple myeloma has been completed, with data expected in 2026 and a potential biologics license application in China targeted for 2027. Another Phase 1 study in POEMS syndrome is underway, with results anticipated in 2027 and a China filing planned for 2028. Tempest retains rights outside China, India, Turkey and Russia, and is considering a U.S. registrational study in multiple myeloma starting in 2027, while development in China will be funded by a strategic partner.

“As Tempest moves into this next phase, we would like to thank Geoff Nichol and Mike Raab.” Mr. Brady continued. “We are grateful for Geoff’s support, engagement and inquisitive mind since he joined the Board in 2021, and wish him continued success in his endeavors. Mike Raab has been our Chair since 2018, during which time he provided clear leadership, thoughtful perspectives, and significant contributions to Tempest throughout his tenure. We are thrilled that Mike will continue to serve on the Board, bringing the ongoing benefit of his experience and guidance to the company.”

Tempest also outlined plans to begin enrolling patients in a Phase 2 trial of TPST-1495 for familial adenomatous polyposis in the first quarter of 2026, supported by the U.S. National Cancer Institute. Additional preclinical CAR-T programmes targeting CD70 and CD19/BCMA are continuing, and the company said its current cash plus Factor’s investment commitment should fund operations into mid-2027 and potentially through several major data readouts.