Tarveda Therapeutics to Present Data from Phase 2 Study of PEN-221 at 2021 ASCO Annual Meeting

Tarveda Therapeutics, Inc., a clinical stage biopharmaceutical company developing a new class of potent and selective precision oncology medicines, which it refers to as Pentarin® miniature drug conjugates, today announced that the company will present data from its Phase 2 clinical trial of PEN-221 at the 2021 American Society for Clinical Oncology (ASCO) Annual Meeting occurring virtually June 4-8, 2021.

PEN-221 is a miniature drug conjugate consisting of a peptide ligand that is highly selective in targeting the somatostatin receptor 2 (SSTR2), joined through a cleavable linker to the potent cytotoxic payload DM1. The Phase 2 trial assessed the safety, tolerability, pharmacokinetics, and preliminary efficacy of PEN-221 in well differentiated neuroendocrine tumors (NETs) and small cell lung cancer. The data being presented include safety and efficacy outcomes for patients enrolled in the gastrointestinal mid-gut NETs cohort.

"We are encouraged by the safety and efficacy results of our Phase 2 trial, which showed that PEN-221 was well tolerated and exceeded its clinical efficacy goals in patients with GI mid-gut neuroendocrine tumors," said Brian Roberts, President and Chief Executive Officer of Tarveda. "We look forward to presenting the results of the study at this year's ASCO Annual meeting and to further evaluating PEN-221 in GI mid-gut neuroendocrine tumors."

Details of the poster presentation are as follows:

Title: The safety and efficacy of PEN-221 somatostatin analog (SSA)-DM1 conjugate in patients (PTS) with advanced GI mid-gut neuroendocrine tumor (NET): Phase 2 results.

Abstract Number: 4110

Date: Poster presentation available on demand beginning on June 4, 2021 at 9:00 AM ET

About Tarveda Therapeutics®, Inc.

Tarveda Therapeutics is a clinical stage biopharmaceutical company developing a new class of potent and selective precision oncology medicines, which it refers to as Pentarin® miniature drug conjugates, for the treatment of patients with various solid tumor malignancies. Tarveda's Pentarin® miniature drug conjugates are designed to deeply penetrate solid tumors, selectively bind to the desired tumor targets and accumulate their anti-cancer payloads directly in tumor cells. The payload is retained and then released over time causing the anti-cancer payload to become active in the tumor.

Tarveda currently has two Pentarin® miniature drug conjugates in clinical trials. Its first clinical program, PEN-866, is the initial candidate from its Heat Shock Protein 90 ("HSP90") binding miniature drug conjugate platform. HSP90 is a molecular chaperone that is highly activated in the harsh tumor environment, but which remains relatively dormant in normal tissue. Up to 75% of solid tumors have activated HSP90, and small molecule drugs that target activated HSP90 have desirable binding properties in solid tumors. PEN-866 is a miniature drug conjugate that selectively binds to the activated form of HSP90 linked to a topoisomerase 1 inhibitor (SN-38), a potent anti-cancer payload. PEN-866 has commenced its Phase 2a trial in various types of solid tumors. In addition to PEN-866, Tarveda is developing additional miniature drug conjugates on its HSP90 binding miniature drug conjugate platform to target other promising anti-cancer payloads such as kinase inhibitors and radioisotopes to solid tumors. Tarveda's second clinical program, PEN-221, is a Pentarin® miniature drug conjugate currently in clinical evaluation for the treatment of patients with certain neuroendocrine solid tumors expressing SSTR2 on the cell surface. PEN-221 is a miniature drug conjugate consisting of a peptide ligand, that is highly selective in targeting SSTR2, joined through a cleavable linker to the potent cytotoxic payload DM1. PEN-221 is currently progressing through its Phase 2a trial. For more information regarding Tarveda, go to: http://www.tarvedatx.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210520005288/en/