Purple Biotech

What Purple Biotech does

Purple Biotech Ltd. is a clinical-stage biopharmaceutical company developing first-in-class oncology therapies to overcome tumor immune evasion and drug resistance. The company is incorporated in Israel, headquartered in Rehovot, and dual-listed on NASDAQ and the Tel Aviv Stock Exchange under ticker PPBT. Purple Biotech has reported zero revenue across 2022–2025 and operates at a loss, with 2025 EBITDA of approximately -$26.25M and a Q2 2026 cash position of $6.1M providing runway only into mid-2027.

The company's pipeline is centered on three programs. The CAPTN-3 platform produces masked tri-specific antibodies that simultaneously engage T cells and NK cells while targeting tumor-associated antigens; the CD3-binding arm is masked in circulation and activated only in the tumor microenvironment via TME-specific proteases. Lead asset IM1240 targets the 5T4 oncofetal antigen and is IND-enabling, with first-in-human studies expected in 2027; IM1305 targets TROP2 and remains preclinical. CM24 is a clinical-stage anti-CEACAM1 humanized monoclonal antibody that completed a Phase 2 study in metastatic pancreatic ductal adenocarcinoma in combination with Bristol Myers Squibb's nivolumab. NT219 is a first-in-class small-molecule dual inhibitor of IRS1/2 and STAT3 currently in Phase 1/2 development for head and neck squamous cell carcinoma.

The company has no commercial products and no recurring revenue. Its go-to-market is purely development-driven: preclinical and clinical work is performed through collaborations with academic medical centers (Mount Sinai's Tisch Cancer Institute, University of Colorado) and a major pharma partner (Bristol Myers Squibb). Future monetization is expected through licensing or strategic partnerships once candidates advance, with H.C. Wainwright & Co. having served as placement agent for multiple small financings. The company also announced a March 2026 collaboration with Converge Bio to apply generative AI to antibody design within the CAPTN-3 platform.

Name

Purple Biotech

Legal name

Purple Biotech Ltd.

Website

https://purple-biotech.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Purple Biotech is a clinical-stage Israeli biopharmaceutical company developing first-in-class oncology therapies to overcome tumor immune evasion, including a masked tri-specific antibody platform (CAPTN-3/IM1240), an anti-CEACAM1 monoclonal antibody (CM24), and a dual IRS1/2-STAT3 inhibitor (NT219) for treatment-resistant solid tumors.

Ownership category

akta.pro rank

Product category

Oncology Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Oncology Specialty Pharmaceuticals (HLAIACAA)

akta.pro secondary industries

Oncology & Hematology Pharmaceuticals (HLAIAAAC), Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI)

Keywords

• Clinical-stage oncology
• Tri-specific antibodies
• Tumor microenvironment therapeutics
• Cancer immunotherapy pipeline
• Monoclonal antibody development

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Oncology Therapeutics Development: Pre-revenue clinical-stage biotech company. Revenue expected from future commercialization of oncology therapeutic candidates including IM1240, IM1305, CM24, and NT219. Company is burning cash through R&D operations with multiple financing rounds to fund development.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Purple Biotech is a clinical-stage biopharmaceutical company developing a portfolio of first-in-class oncology therapeutics. Its core pipeline comprises the proprietary CAPTN-3 masked tri-specific antibody platform (lead candidate IM1240 targeting 5T4 and second candidate IM1305 targeting TROP2), the humanized anti-CEACAM1 monoclonal antibody CM24, and the first-in-class small molecule dual-inhibitor NT219 (IRS1/2 and STAT3). Products are investigational and not yet commercially available.

Product overview

Purple Biotech is a clinical-stage oncology company developing a portfolio of first-in-class cancer therapeutics. The company's pipeline includes three main programs: the CAPTN-3 platform (a tri-specific antibody technology with lead candidate IM1240 targeting 5T4 and second candidate IM1305 targeting TROP2), CM24 (a clinical-stage monoclonal antibody targeting CEACAM1 for multiple oncological indications), and NT219 (a first-in-class small molecule dual-inhibitor of IRS 1/2 and STAT3). The company has shifted focus to developing its tri-specific antibody candidates while seeking strategic partnerships for continued development of CM24 and NT219.

Differentiator

Problem solved

Functional benefit

Products and services

• CAPTN-3 Platform Proprietary platform of masked tri-specific antibodies that simultaneously target tumor-associated antigens while engaging both T cells and NK cells. Capping technology confines immune activation to the tumor microenvironment by masking the CD3-binding arm in circulation and activating it only at the tumor site via TME-specific proteases. Foundation for Purple Biotech's next-generation immuno-oncology candidates.
• IM1240 Lead tri-specific antibody candidate from the CAPTN-3 platform targeting the 5T4 (trophoblast glycoprotein / TPBG) oncofetal antigen, CD3 on T cells, and NKG2A on NK and CD8+ T cells. In preclinical/IND-enabling development for solid tumors including lung, gastric, head and neck cancers. Demonstrated 8-fold longer half-life and 16-fold greater systemic exposure vs non-capped comparators in NHP toxicology.
• IM1305 Second tri-specific antibody candidate from the CAPTN-3 platform targeting the TROP2 tumor-associated antigen, with simultaneous T cell and NK cell engagement. In preclinical development.
• CM24 Clinical-stage humanized monoclonal antibody directed against CEACAM1, a multi-faceted membrane protein acting as an immune checkpoint inhibitor, pro-angiogenic and anti-apoptotic agent, and promoter of tumor invasiveness and metastases. Phase 2 data in pancreatic cancer showed OS of 7.92 vs 5.55 months, PFS 3.9 vs 2.0 months, and response rates of 25% vs 7% versus chemotherapy.
• NT219 First-in-class small molecule dual-inhibitor that covalently binds Insulin Receptor Substrates (IRS) 1/2 leading to their degradation and blocks STAT3, two oncogenic drivers and drug resistance pathways in hard-to-treat cancers. Being evaluated in Phase 1/2 for head and neck squamous cell carcinoma.

Quantifiable outcome

• IM1240 showed 8-fold longer half-life and 16-fold greater systemic exposure vs non-capped comparator in NHP toxicology studies
• +3 more outcomes

Segments1 record

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered strategic and core.

• Converge BiostrategicTechnology or Integration · 25 March 2026Collaboration leveraging Converge Bio's proprietary generative AI capabilities to design and optimize novel tri-specific antibodies for the CAPTN-3 platform. AI-driven approach designed to significantly reduce discovery timelines and improve candidate quality and developability profiles.
• Bristol Myers SquibbcoreStrategic or Co-development PartnerClinical collaboration with Bristol Myers Squibb for Phase 2 study of CM24 in combination with nivolumab (anti-PD-1) and chemotherapy for metastatic pancreatic ductal adenocarcinoma (PDAC). BMS provided nivolumab for the study.
• Tisch Cancer Institute at Mount SinaistrategicStrategic or Co-development PartnerResearch collaboration with Dr. Amir Horowitz's lab at the Tisch Cancer Institute, Icahn School of Medicine at Mount Sinai, for preclinical studies of IM1240 demonstrating anti-tumor activity in patient-derived tumor samples.
• University of ColoradostrategicStrategic or Co-development PartnerPhase 2 study collaboration for NT219 in recurrent/metastatic squamous cell carcinoma of the head and neck (R/M SCCHN) in combination with cetuximab or pembrolizumab.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Janux Therapeutics: Clinical-stage oncology company developing tumor-activated T-cell engagers (TRACTr platform) with proprietary masking/prodrug mechanisms — the closest architectural peer to Purple Biotech's CAPTN-3 platform.
• CytomX Therapeutics: Clinical-stage biotech developing Probody therapeutics — masked/protease-activated antibodies designed to activate in the tumor microenvironment. Direct competitor in the masked antibody approach to expanding therapeutic window.
• Werewolf Therapeutics: Clinical-stage oncology company developing PREDATOR platform of tumor-activated masked immunomodulators, including T-cell engagers with conditional activation — directly comparable masked/capped approach to CAPTN-3.
• Harpoon Therapeutics: Developed TriTAC (tri-specific T-cell activating construct) platform targeting solid tumors with T-cell engagers — same tri-specific T-cell engager modality as Purple Biotech's CAPTN-3 candidates. Acquired by Merck in 2024, providing a recent comparable M&A exit.
• Maverick Therapeutics: Developed COBRA platform of conditionally active tri-specific T-cell engagers with tumor-specific masking — the closest mechanistic analog to Purple Biotech's CAPTN-3 masking technology. Acquired by Takeda in 2024.

Emerging players

• Compass Therapeutics: Clinical-stage immuno-oncology company developing bispecific antibodies including NK cell engagers and T-cell engagers — overlapping modality with Purple Biotech's tri-specifics but with broader bispecific focus.
• Cullinan Oncology: Clinical-stage oncology company with a diversified pipeline including T-cell engagers and immunomodulators — comparable profile of a multi-asset, clinical-stage oncology biotech pursuing novel immuno-oncology mechanisms.
• Dragonfly Therapeutics: Clinical-stage biotech developing tri-specific NK cell engagers and other multi-specific immune engagers — comparable multi-specific immune engager approach, particularly relevant given CAPTN-3's NK cell engagement.
• Adagene: Clinical-stage oncology company developing POWERbody masked antibodies using SAFEbody/POWERbody masking technology — directly comparable masked antibody approach with focus on tumor-specific activation.

Broad incumbents

• Amgen: Established biopharmaceutical leader with the leading T-cell engager franchise (Blincyto for ALL, IMDELLTRA for SCLC) and broader immuno-oncology pipeline. Represents the incumbent benchmark and potential strategic acquirer in the T-cell engager space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/6758085
• Xx.com/_purplebiotech

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds9 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Purple Biotech