Coiled Therapeutics (AIM:COIL), the clinical-stage oncology company, is targeting partnerships with major pharmaceutical companies after its lead cancer drug candidate posted an 80% clinical benefit rate in early-stage trials.
The company expects data from expansion cohorts in ovarian and prostate cancer in the second half, which it believes will provide the clinical validation needed to open partnering discussions from what chief executive Sridhar Vempati described as a position of strength.
Vempati pointed to Johnson and Johnson's multi-billion-dollar acquisition of Halda Therapeutics as evidence of strong dealmaking appetite for clinical-stage oncology assets, suggesting positive data could make Coiled an attractive target for similar interest.
The company's lead asset, AO-252, is a first-in-class, orally administered inhibitor of TACC3, a protein frequently overexpressed in aggressive solid tumours but largely absent in healthy adult cells, giving it a potentially wide safety margin.
In April, the phase I trial reported that patients receiving a twice-daily dose achieved an 80% clinical benefit rate, meaning eight in ten evaluable patients saw their tumours stabilise or shrink, a significant improvement on the 40% rate seen in the once-daily cohort.
Treatment durations exceeded six months in a heavily pre-treated patient population, and no serious adverse events were observed, with the maximum tolerated dose yet to be established.
The company is now accelerating the transition to targeted dose expansion cohorts in ovarian and prostate cancer, aiming to enrol 40 patients by the third quarter, with comprehensive efficacy and safety data expected in H2 2026.
Researchers have also identified emerging evidence of immune-modulating activity in AO-252, consistent with activation of the cGAS/STING pathway, a cellular signalling mechanism linked to immune responses against tumours, which the company believes could broaden the drug's therapeutic potential and open combination therapy possibilities.
Phase II registrational trial planning and formal partnering discussions with larger pharmaceutical groups are expected to follow the H2 data readouts.
The update was provided in the company's annual results statement covering a period of sweeping strategic change.
During 2025, it divested non-core assets, including the Lyramid and MK Cell programmes, with both sales contingent on acquirer Pleiades Pharma completing a fundraising round; the longstop date for both transactions has been extended to 31 December 2026.
Following the year-end, the company completed the acquisition of worldwide rights to AO-252, moved its listing from the Main Market to AIM, and changed its name to Coiled Therapeutics.
It raised £8.5 million from institutional investors, with proceeds intended to fund the company through key clinical milestones in 2026 and 2027.
The board was also reconstituted, with Vempati appointed chief executive and Dr Sotirios Stergiopoulos joining as executive chairman alongside newly appointed non-executive director Pamela Frank.