Vincerx Pharma Takes Bold Steps With Cost-Cutting Measures To Propel Phase 1 Study Of VIP943

Vincerx Pharma, Inc., a biopharmaceutical company focused on transforming cancer treatment with innovative therapies, has revealed its intention to implement cost-saving measures and explore strategic options to further advance the Phase 1 trial of VIP943. This novel CD123-targeted antibody-drug conjugate (ADC), developed utilising the company's cutting-edge VersAptx™ platform, aims to address critical medical needs in oncology.

Ahmed Hamdy, M.D., Chief Executive Officer, said in a statement, “We believe VIP943 is a highly differentiated and valuable asset, and we remain fully committed to advancing this program. As we shared in October, the Phase 1 dose-escalation study of VIP943 has demonstrated encouraging safety, efficacy, and tolerability. Of nine evaluable patients, one patient whose acute myeloid leukaemia (AML) relapsed post-transplant achieved a CRi, and one patient with higher-risk myelodysplastic syndrome (HR-MDS) achieved a CRL. 

He further added, “Notably, since October, the patient with CRi has continued to improve, with their most recent bone marrow results showing only 1% cancer cells. This patient has now been on the study for seven months and counting. Monotherapy responses in post-transplant patients are rare, so we believe this type of response highlights the potential of VIP943 in this challenging population and supports the next-generation technology of our VersAptx platform.”

Dr. Hamdy also mentioned, “Our immediate focus is to give the program time to generate more data, with results from additional cohorts expected by early Q1 2025. To support this, we are implementing significant cost-cutting measures to focus resources on VIP943’s advancement. Additionally, we will begin exploring strategic alternatives to complement our ongoing fundraising efforts, with the goal of maximising the value of the VIP943 program and our VersAptx platform.”

As part of its assessment of strategic alternatives, Vincerx Pharma will explore several options, including out-licensing, potential mergers or acquisitions (including reverse mergers), asset and technology sales, and other transactions. To streamline operations and optimise resources, the company plans to reduce its workforce by approximately 55%. However, there is no guarantee that this strategic review will lead to any agreements or transactions, nor can the timing of any such outcomes be assured. Vincerx is in the process of engaging a financial advisor to assist in the review.

The company has not established a timeline for completing this evaluation and does not plan to provide further updates or guidance unless it determines that additional disclosure is warranted or necessary. As of October 31, 2024, Vincerx reported a cash balance of approximately $8.4 million, including cash equivalents and marketable securities.