What Trishula Therapeutics does

Trishula Therapeutics, Inc. is a privately held clinical-stage biotechnology company founded in August 2020 as a spin-out from Tizona Therapeutics and headquartered in South San Francisco, California. The company is solely dedicated to developing TTX-030, a first-in-class anti-CD39 monoclonal antibody that inhibits the rate-limiting CD39 enzyme in the tumor microenvironment's ATP-to-adenosine conversion pathway, thereby simultaneously blocking immunosuppressive adenosine production and preserving immune-activating extracellular ATP. TTX-030 is being evaluated across three clinical trials — two Phase 1/1b studies (NCT03884556, NCT04306900) in multiple solid tumors including gastric/GEJ and pancreatic cancer, and the randomized global Phase 2 ELTIVATE trial (NCT06119217) in approximately 180 first-line metastatic pancreatic cancer patients initiated November 2023, with a biomarker-enriched HLA-DQhigh patient selection strategy.

The company's business model is structured around a co-development collaboration with AbbVie Inc. established at spinout: Trishula retains development control through Phase 2, after which AbbVie holds an exclusive option to license TTX-030 for further development and global commercialization. Revenue mechanics are therefore contingent on licensing economics (upfront, milestone, and royalty payments from AbbVie), not direct product sales, as TTX-030 remains an investigational drug not yet commercially available. The company's investor base includes MPM Capital, Canaan Partners, Abingworth, Lightstone Ventures, InterWest Partners, and AbbVie Ventures — all of whom received Trishula shares upon the 2020 spinout from Tizona Therapeutics. The company operates with a small leadership team of 1–10 employees and focuses exclusively on TTX-030 across two oncology indications.

Name

Trishula Therapeutics

Legal name

Trishula Therapeutics, Inc.

Website

https://www.trishulatx.com/

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Trishula Therapeutics is a privately held, clinical-stage biotechnology company developing TTX-030, a first-in-class anti-CD39 monoclonal antibody for solid tumor immunotherapy, with a co-development and exclusive licensing option held by AbbVie.

Ownership category

akta.pro rank

Product category

Oncology Therapeutics

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Recombinant Protein Therapeutics (enzymes, hormones, growth factors) (HLAAAAAB)

Keywords

• Oncology drug development
• Monoclonal antibody therapy
• Cancer immunotherapy
• Clinical-stage biotechnology
• Anti-CD39 antibody

Headquarters

HQ city

South San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain

Revenue model

1. Licensing and Co-development Revenue: Trishula develops TTX-030 in co-development collaboration with AbbVie. Under the collaboration agreement, at the conclusion of the Phase 2 study, AbbVie has an exclusive option to license TTX-030 for further development and commercialization. Revenue is derived through upfront payments, milestone payments, and potential royalties on future sales from licensing deals with pharmaceutical partners.
2. Strategic Asset Sale / Acquisition: As a clinical-stage private biotech company, Trishula's primary value creation pathway is the advancement of TTX-030 through clinical development to a milestone event (e.g., AbbVie exercising its license option), potentially leading to an acquisition or full licensing transaction.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Trishula Therapeutics is a clinical-stage biotechnology company developing TTX-030, a first-in-class anti-CD39 monoclonal antibody for cancer immunotherapy. The drug targets the ATP-adenosine pathway in the tumor microenvironment to reverse adenosine-mediated immunosuppression and is being evaluated in Phase 1/1b and Phase 2 clinical trials for pancreatic cancer and gastric/GEJ cancer, in collaboration with AbbVie.

Product overview

Trishula Therapeutics is dedicated to developing a single core product, TTX-030, a first-in-class anti-CD39 antibody for cancer treatment. The company's entire clinical development pipeline revolves around TTX-030, which is being evaluated as both monotherapy and in combination with anti-PD-1 immunotherapy (budigalimab) and standard chemotherapy across multiple cancer indications including pancreatic cancer and gastric/GEJ cancer.

Differentiator

Problem solved

Functional benefit

Products and services

• TTX-030 TTX-030 is a first-in-class anti-CD39 monoclonal antibody that inhibits the CD39 enzyme, the rate-limiting step in the conversion of extracellular ATP to adenosine in the tumor microenvironment. The drug prevents formation of immunosuppressive adenosine while maintaining immune-activating ATP levels, stimulating dendritic and myeloid-derived cells to support anti-tumor immunity. It is being evaluated in clinical trials for pancreatic cancer, gastric/GEJ cancer, and other solid tumors, both as monotherapy and in combination with anti-PD-1 (budigalimab) and chemotherapy.

Quantifiable outcome

• Phase 1 pancreatic cancer: ORR 30% (n=57), mPFS 7.5 months, mOS 19.1 months; HLA-DQhigh subgroup: ORR 46%, mPFS 9.6 months, mOS 21.9 months
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• AbbVie Inc.coreStrategic or Co-development Partner · 26 August 2020Trishula and AbbVie maintain an ongoing co-development collaboration for TTX-030, originally established when Trishula was spun out from Tizona Therapeutics in August 2020. AbbVie previously had an equity stake through AbbVie Ventures. Under the current collaboration agreement, Trishula leads the Phase 2 ELTIVATE study; upon its conclusion, AbbVie has an exclusive option to license TTX-030 for further development and potential global commercialization.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Arcus Biosciences: Clinical-stage immuno-oncology biotech developing AB916 (anti-CD39 antibody) plus adjacent adenosine-pathway programs (AB598 anti-CD73, quemliclustat A2aR antagonist), making it the closest mechanistic competitor to Trishula's TTX-030.
• Surface Oncology (acquired by Coherus BioSciences): Developed SRF617, an anti-CD39 antibody directly targeting the same mechanism as TTX-030; the acquisition by Coherus highlights the M&A interest in CD39 assets and makes Surface Oncology a clear direct comparable in the same therapeutic mechanism.
• Innate Pharma: Clinical-stage biotech developing adenosine-pathway modulators and NK-cell-based immuno-oncology therapeutics, with strategic pharma partnerships (Sanofi, AstraZeneca); its adenosine-pathway pipeline directly overlaps with Trishula's ATP-adenosine axis.

Emerging players

• Compugen: Clinical-stage immuno-oncology biotech leveraging a computational discovery platform to develop antibody-based therapeutics, including PVRIG and other immune-checkpoint approaches; comparable as a small clinical-stage oncology antibody developer with similar capital constraints.
• Werewolf Therapeutics: Clinical-stage immuno-oncology biotech developing INDUKINE-conditoned cytokines with a similar profile of early-stage clinical assets and small-team operations; comparable as a small cap clinical-stage I-O biotech reliant on pharma partnership optionality.

Broad incumbents

• Tizona Therapeutics: Former parent of Trishula (TTX-030 was spun out from Tizona in 2020) and now owned by AbbVie; comparable as the originating organization of TTX-030 and as a similarly-staged AbbVie-partnered immuno-oncology biotech.
• Revolution Medicines: Clinical-stage precision oncology biotech developing targeted therapeutics with phase 2/3 readouts; comparable as a similarly-sized clinical-stage oncology biotech with big-pharma partnership optionality and a comparable oncology value-inflection trajectory.
• Iovance Biotherapeutics: Clinical-to-commercial cell therapy biotech that successfully brought lifileucel to accelerated approval; comparable given that Trishula's VP of Program Management led the lifileucel project organization there — a useful model for what a successful clinical-stage oncology asset-to-approval transition can look like.

Others

• Erasca: Clinical-stage precision oncology biotech with multiple programs targeting the RAS/MAPK pathway; comparable as a small-cap clinical-stage oncology biotech backed by institutional investors and reliant on pharma partnerships for commercialization.
• Foghorn Therapeutics: Clinical-stage oncology biotech leveraging a chromatin regulatory complex discovery platform; comparable as a small clinical-stage oncology biotech with a similar funding profile and partnership-driven exit model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/trishulatx

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors4 records

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

M&A

Investments

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

Frequently asked questions about Trishula Therapeutics