Phanes Therapeutics
Phanes Therapeutics is a clinical-stage biotech developing spevatamig (PT886), a first-in-class bispecific antibody targeting CLDN18.2 and CD47 for metastatic pancreatic cancer, biliary tract cancer, and other solid tumors, with FDA Orphan Drug and Fast Track designations.
- Company typePrivate
- Founded2016
- HeadquartersSan Diego, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Phanes Therapeutics does
Phanes Therapeutics is a clinical-stage biopharmaceutical company founded in 2016 and headquartered in San Diego, California, focused on discovering and developing therapeutics for solid tumors and eye diseases. The company's lead product candidate is spevatamig (PT886), a first-in-class bispecific antibody that simultaneously targets CLDN18.2 and CD47, functioning as an innate immunity enhancer designed to address immunologically cold tumors resistant to conventional immunotherapies. Spevatamig has received both FDA Orphan Drug Designation and FDA Fast Track Designation for pancreatic cancer, and is being evaluated in the TWINPEAK basket trial across multiple gastrointestinal malignancies including metastatic pancreatic ductal adenocarcinoma (PDAC) and biliary tract cancer, with 160+ patients dosed globally.
The company's core technology centers on bispecific antibody engineering with a novel dual-targeting architecture. Phase 2 clinical data presented at ASCO 2026 demonstrated a 52.4% objective response rate and 90.5% disease control rate in US patients with metastatic PDAC, with median progression-free survival of 7.3 months and median overall survival of 14.7 months, alongside a favorable safety profile with no cytokine release syndrome or dose-limiting toxicities observed. These results support advancement toward a Phase 3 registrational trial.
Phanes operates a pre-commercial business model with no current product revenue. Revenue will be generated through future pharmaceutical product sales upon regulatory approval. The company has established a strategic collaboration with Merck to evaluate spevatamig in combination with pembrolizumab (Keytruda), signaling an enterprise partnership approach for potential co-commercialization in oncology. Funding to date includes a $40 million Series B led by HSG in 2021 and subsequent investment from Kaitai Capital in 2024.
Phanes Therapeutics firmographics
Firmographics- Name
- Phanes Therapeutics
- Legal name
- Phanes Therapeutics, Inc.
- Website
- https://phanesthera.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Phanes Therapeutics is a clinical-stage biotech developing spevatamig (PT886), a first-in-class bispecific antibody targeting CLDN18.2 and CD47 for metastatic pancreatic cancer, biliary tract cancer, and other solid tumors, with FDA Orphan Drug and Fast Track designations.
- Ownership category
- akta.pro rank
Phanes Therapeutics industry classification
Industry- Product category
- Oncology Biopharmaceuticals
- NAICS
- Scientific Research and Development Services (5417), Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Clinical CROs (Phase I–IV) (HLAGAAAA)
- akta.pro secondary industries
- Specialty Therapeutic-Area CROs (e.g., oncology/rare disease) (HLAGAAAL), Bioanalytical & Biomarker CROs (PK/PD/Immunogenicity) (HLAGAAAD), Preclinical CROs (Discovery/Pharmacology/DMPK) (HLAGAAAB)
Keywords
Where Phanes Therapeutics is headquartered
LocationHeadquarters
- HQ city
- San Diego
- HQ country
- United States
- HQ region
- North America
Markets served
Phanes Therapeutics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Pharmaceutical Product Revenue: Pre-commercial stage company with drug candidate spevatamig in Phase 2 clinical trials. Revenue will be generated through future pharmaceutical product sales upon regulatory approval.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels2 records
Phanes Therapeutics product offering
Product offeringCore offering
Phanes Therapeutics is a clinical-stage biotech developing spevatamig (PT886), a first-in-class bispecific antibody that simultaneously targets CLDN18.2 and CD47 to act as an innate immunity enhancer for solid tumors. The lead program focuses on metastatic pancreatic ductal adenocarcinoma (PDAC) and biliary tract cancer, with the candidate having received FDA orphan drug and Fast Track designations for pancreatic cancer.
Product overview
Phanes Therapeutics is a clinical-stage biotech company focused on oncology drug discovery. The company's lead product is spevatamig (PT886), a first-in-class bispecific antibody targeting CLDN18.2 and CD47. The drug is being developed as an innate immunity enhancer for the treatment of multiple gastrointestinal cancers, including metastatic pancreatic ductal adenocarcinoma (PDAC) and biliary tract cancer, with the goal of addressing cold tumors resistant to conventional immunotherapies. The TWINPEAK basket trial is evaluating spevatamig across multiple cancer types.
Differentiator
Problem solved
Functional benefit
Products and services
- Spevatamig (PT886)
Quantifiable outcome
- 52.4% objective response rate in 2 mg/kg QW cohort in US patients with metastatic PDAC
- +4 more outcomes
Companies that use Phanes Therapeutics
Customer profileSegments3 records
Ideal customer profiles2 records
Phanes Therapeutics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Phanes Therapeutics partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- MerckcoreCollaboration with Merck (known as MSD outside the US and Canada) to explore spevatamig in combination with pembrolizumab (Keytruda), a PD-1 inhibitor. This strategic partnership aims to evaluate the combination of spevatamig's innate immunity enhancement mechanism with Merck's established checkpoint inhibitor therapy.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Phanes Therapeutics competitors and assessment
Company assessmentDirect peers
- Akeso: Developer of ivonescimab (PD-1/VEGF bispecific) and CLDN18.2-targeting bispecifics. Comparable clinical-stage bispecific antibody pipeline in oncology with combinations in pancreatic and GI cancers.
- Astellas Pharma: Approved zolbetuximab (Vyloy), the first CLDN18.2-directed therapy, in gastric/GEJ cancer. Astellas is the leading CLDN18.2 competitor and validates the target class for Phanes' spevatamig.
- Innovent Biologics: Chinese biotech with multiple CLDN18.2 bispecific and ADC candidates in oncology, including combinations with checkpoint inhibitors. Directly competes with Phanes in CLDN18.2 GI cancer indications.
- MacroGenics: Clinical-stage biotech with multiple bispecific antibody programs (e.g., enoblituzumab, MGC018) in oncology. Comparable bispecific platform company competing in solid tumor indications.
- Zymeworks: Clinical-stage bispecific antibody platform company with candidates in oncology, including zanidatamab (HER2 bispecific). Comparable in modality (bispecific antibodies) and stage (Phase 2/3 oncology).
- Compugen: Clinical-stage computational biology company with a bispecific antibody pipeline (e.g., COM701 PVRIG) in oncology. Comparable mid-stage clinical biotech developing innovative immuno-oncology bispecifics.
- Alphamab Oncology: Developer of KN046 (PD-L1/CTLA-4 bispecific) and other bispecific antibodies in oncology. Comparable clinical-stage bispecific antibody company targeting solid tumors.
- Dragonfly Therapeutics: Clinical-stage company developing cytokine-based and NK cell engager bispecific antibodies for solid tumors. Comparable bispecific antibody platform in oncology with similar patient-focused development strategy.
- ABL Bio: Korean biotech developing bispecific antibodies including CLDN18.2 x 4-1BB and other oncology bispecifics. Comparable bispecific antibody pipeline competing in the same target class.
Broad incumbents
- BeiGene: Large commercial-stage oncology biotech with tislelizumab and a broad pipeline including bispecific efforts. While much larger, BeiGene represents the end-state for a successful clinical-stage oncology bispecific developer and serves as a comparable benchmark for Phanes' strategic trajectory.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat2 records
Key risks5 records
Key highlights6 records
Customer concentration
Phanes Therapeutics social profiles
Digital presencePhanes Therapeutics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Phanes Therapeutics leadership team
Management profileNumber of profiles
Profiles4 records
Phanes Therapeutics funding detail
Funding detailFunding overview
Funding rounds2 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Phanes Therapeutics M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Phanes Therapeutics
What does Phanes Therapeutics do?
Phanes Therapeutics is a clinical-stage biotech developing spevatamig (PT886), a first-in-class bispecific antibody that simultaneously targets CLDN18.2 and CD47 to act as an innate immunity enhancer for solid tumors. The lead program focuses on metastatic pancreatic ductal adenocarcinoma (PDAC) and biliary tract cancer, with the candidate having received FDA orphan drug and Fast Track designations for pancreatic cancer.
Is Phanes Therapeutics a public or private company?
Phanes Therapeutics is a private company. It is classified as venture growth investor backed and is currently operating.
When was Phanes Therapeutics founded?
Phanes Therapeutics was founded in 2016. It employs 11 to 50 people.
Where is Phanes Therapeutics based?
Phanes Therapeutics is headquartered in San Diego, United States, in the North America region.
How does Phanes Therapeutics make money?
One revenue line is on record: pharmaceutical Product Revenue.
Who are Phanes Therapeutics's main competitors?
Direct peers on record are Akeso, Astellas Pharma, Innovent Biologics, MacroGenics, Zymeworks, Compugen, Alphamab Oncology, Dragonfly Therapeutics and ABL Bio. BeiGene is listed as a broad incumbent.
Does Phanes Therapeutics have an API?
No public API is recorded for Phanes Therapeutics.
What industry is Phanes Therapeutics in?
Phanes Therapeutics's product category is Oncology Biopharmaceuticals. Its primary akta.pro industry code is HLAGAAAA, Clinical CROs (Phase I–IV), with a secondary code of HLAGAAAL, Specialty Therapeutic-Area CROs (e.g., oncology/rare disease). Its NAICS code is 5417 and its SIC code is 2834.