CureTech

Cancer Immunotherapy

Non Active, Feb 2019 ceased to operate

Company Overview

Snapshot

Founded in January 2001 by Lior Carmon, CureTech operated with 51–200 employees. The company raised $4 million across one funding round from Clal Biotechnology Industries (CBI). A significant milestone occurred in March 2018 when InSight Innovations acquired CureTech for up to $550 million.

Business overview

CureTech is a biotechnology company focused on developing broad-spectrum, immune-modulating products for the treatment and control of cancer. Its core product line includes antibodies and peptide-based vaccines designed to modulate the immune response to exert anti-cancer activity. The company's lead humanized antibody product, pidilizumab (CT-011), was in Phase II clinical testing. CureTech operates within the pharmaceuticals sector, specifically in health tech and life sciences, with a focus on drug discovery and development.

Strategic signal

CureTech's trajectory was significantly altered in February 2019 when the company ceased operations, following news in February 2020 that its cancer-fighting dreams ended with insolvency. This indicates a critical failure in commercialization or clinical development, despite prior acquisition interest, sending a strong signal about the high-risk nature of early-stage biotechnology ventures and the challenges in bringing novel cancer therapies to market.

Company Intelligence Q&A

What was the outcome of CureTech's acquisition by InSight Innovations?
In March 2018, InSight Innovations acquired CureTech for up to $550 million. However, by July 2018, cost-cutting measures were reported at CureTech following the cancellation of this acquisition deal with InSight Innovations.
What was the status of CureTech's lead product, pidilizumab?
CureTech's lead humanized antibody product, pidilizumab (CT-011), was in Phase II clinical testing. In December 2014, Medivation took up a $335 million licensing option for pidilizumab.
What was the company's final operational status?
CureTech ceased to operate in February 2019. News in February 2020 reported that the company's operations ended with insolvency.
Did CureTech reacquire any of its cancer drugs?
In October 2017, CureTech bought back a cancer drug from Pfizer for $20 million.
When was CureTech founded and what was its employee count?
CureTech was founded in January 2001 and operated with 51–200 employees.

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