Percheron Therapeutics targets clinical return for HMBD-002 after productive June quarter

Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) advanced preparations to return its lead cancer drug HMBD-002 to the clinic during the June 2026 quarter, completing manufacture of a new drug substance batch, raising $2.2 million and presenting supporting data at two major international oncology conferences.

The biotechnology company expects the newly manufactured material to be filled into vials and released for use in a new clinical trial in September 2026, supporting its plan to restart clinical development during the second half of the year.

Percheron finished the quarter with $4.05 million in cash, up from $3.10 million at the end of March, following completion of its entitlement offer.

New drug batch supports clinical restart

Percheron received a completed Certificate of Analysis for a new batch of HMBD-002 drug substance during June. The company will now arrange for the material to be placed into vials, with the finished product expected to be released in September.

HMBD-002 is a monoclonal antibody targeting VISTA, an immune checkpoint regulator associated with the suppression of anti-tumour immune responses. The program has already completed a Phase 1 clinical trial involving 48 patients with advanced cancer across six US cancer centres. The study found HMBD-002 was generally safe and well tolerated as a monotherapy and in combination with Keytruda, or pembrolizumab, while several patients showed signs of potential clinical benefit.