Hummingbird Leverages VISTA Buzz to Land $290M Deal for Phase 2-Ready Cancer Drug

Hummingbird Bioscience has entered into a licensing agreement with Percheron Therapeutics that could be worth up to $290M, depending on the success of a phase 2-ready cancer therapy. 

The deal gives Percheron rights to HMBD-002, an anti-VISTA monoclonal antibody aimed at reducing tumor growth. While the companies have not disclosed a detailed financial breakdown, the arrangement includes upfront payments and potential development and commercial milestones.

HMBD-002 has already completed a phase 1 clinical trial in the United States, with results showing that the drug was pharmacologically active and generally well tolerated, according to a June 25 announcement. The therapy targets VISTA, or V-type immunoglobulin domain-containing suppressor of T-cell activation, an immune checkpoint protein found on naïve T cells. VISTA plays a key role in maintaining immune tolerance and T-cell dormancy. By inhibiting VISTA, HMBD-002 is designed to counteract the immunosuppressive environment tumors often create, without impairing the overall function of immune cells that express VISTA.

Percheron CEO James Garner emphasized the promise of HMBD-002, stating the candidate was chosen from a pool of over 100 drug candidates from more than 70 different companies. Garner expressed hope that the therapy could offer real benefits to cancer patients and shared plans to launch a phase 2 trial in 2026.

Dr. Piers Ingram, CEO of Hummingbird Bioscience, highlighted HMBD-002 as a scientifically promising asset with potential across a range of cancers. He noted that VISTA blockade could be valuable both as a standalone treatment and in combination with other immunotherapies. Ingram also voiced confidence in Percheron’s ability to bring the drug further through clinical development.

The VISTA pathway has attracted growing interest from the biopharma industry, although not without challenges. Johnson & Johnson previously partnered with ImmuNext on an anti-VISTA candidate, JNJ-61610588, but ended the collaboration due to business considerations after a patient in a phase 1 trial experienced cytokine release syndrome. ImmuNext later teamed up with Curis to continue clinical testing of the drug in solid tumor patients. In a separate effort, Sensei Biotherapeutics reported encouraging phase 1/2 data in 2023 for its own anti-VISTA antibody, noting favorable pharmacokinetics and a manageable safety profile.

This new partnership between Hummingbird and Percheron signals renewed momentum in VISTA-targeted cancer therapies and could potentially offer a new treatment option for patients with difficult-to-treat cancers.