Purple Biotech

Company Overview

Snapshot

Founded in August 1968 by Hadas Reuveni, PhD, Purple Biotech operates with 11–50 employees. The company has raised a total of $94.6 million across 11 funding rounds from 2 investors. In February 2023, Purple Biotech acquired Immunorizon.

Business overview

Purple Biotech is a clinical-stage company focused on developing first-in-class therapies to overcome tumor immune evasion and drug resistance. Its oncology pipeline includes NT219, a dual inhibitor targeting IRS1/2 and STAT3; CM24, a humanized monoclonal antibody blocking CEACAM1; and IM1240, a preclinical, conditionally-activated tri-specific antibody. The company serves the health tech and life sciences sectors, specifically within pharmaceuticals and drugs discovery and development, with a global market reach.

Strategic signal

In September 2025, Purple Biotech announced the closing of a public offering that could generate up to $18 million, with $6 million upfront and an additional $12 million from the exercise of short-term warrants. This financial activity indicates continued investor confidence and provides capital to advance its clinical-stage oncology pipeline, signaling a focus on accelerating drug development and commercialization efforts.

Company Intelligence Q&A

What is Purple Biotech's primary focus?

Purple Biotech is a clinical-stage company developing first-in-class therapies designed to overcome tumor immune evasion and drug resistance in oncology.

When did Purple Biotech go public on NASDAQ?

Purple Biotech announced the pricing of its U.S. Initial Public Offering and NASDAQ listing in November 2015.

What was a significant acquisition made by Purple Biotech?

In February 2023, Purple Biotech acquired Immunorizon, expanding its portfolio with tri-specific antibodies.

What is the status of Purple Biotech's CM24 program?

In September 2023, Purple Biotech presented new CM24 pancreatic cancer biomarker data at the AACR Special Conference, and in September 2024, reported additional positive interim data from its randomized Phase 2 study with CM24.

Has Purple Biotech expanded its CAPTN-3 portfolio recently?

In September 2025, Purple Biotech expanded its CAPTN-3 portfolio with IM1305, a novel tri-specific antibody targeting TROP2.