Valerio Therapeutics is ending all clinical trials, including an ongoing phase 1/2 study for its investigational “DNA decoy” candidate designed to treat recurrent solid tumors.
The Paris-based biotech said the decision was made by its board of directors, which cited the company’s “financing challenges,” according to a Feb. 4 release.
The move means Valerio will also shutter its U.S. office, which was based in Lexington, Massachusetts. The biotech did not respond for comment regarding the employment status of the staffers at the site.
The biotech will turn its focus to early-stage activities, primarily encompassing the development of a single-chain antibody platform that may help to “open new avenues for the company,” per the release.
Valerio said it expects its cash runway to stretch for the next three months. That period will be spent negotiating with stakeholders in efforts to secure a long-term financing solution.
The end to clinical activity impacts a U.S.-run trial that launched in the beginning of 2024 and was expected to read out in 2026, according to ClinicalTrials.gov. The two-part trial was designed to assess VIO-01, a DNA decoy-cholesterol conjugate, alone or in combination with other anti-cancer therapies. The trial was estimated to enroll about 165 patients with different types of solid tumors.