Corvus Pharmaceuticals Inc. (NASDAQ: CRVS) announced it participated in a $13.5 million financing round for Angel Pharmaceuticals Ltd., its collaboration partner in China. Corvus invested $5 million in the financing and remains Angel Pharma's largest shareholder.

The funding will support Angel Pharma's ongoing Phase 1b/2 trial of soquelitinib for atopic dermatitis and a planned Phase 2 trial for asthma. Angel Pharma expects to report results from the initial cohort of the atopic dermatitis trial in late 2026 and initiate the asthma trial in early 2027.

Angel Pharma is enrolling a blinded, placebo-controlled trial evaluating soquelitinib in 48 patients with moderate-to-severe atopic dermatitis over a 12-week treatment period. The trial is testing doses of 100 mg twice daily, 200 mg once daily, 200 mg twice daily, and 400 mg once daily. Depending on Phase 1b results, an additional 60-90 patients may be enrolled in the Phase 2 portion.

Corvus co-founded Angel Pharma in 2020 to enable clinical development and commercialization of its drug pipeline in China. Corvus holds a 49% equity stake in Angel Pharma, excluding 6% reserved for employee stock ownership.

Soquelitinib is an investigational oral drug designed to selectively inhibit ITK (interleukin-2-inducible T cell kinase). Corvus is currently conducting a registration Phase 3 clinical trial of soquelitinib for relapsed/refractory peripheral T cell lymphoma and a Phase 2 trial for atopic dermatitis.

The information is based on a press release from Corvus Pharmaceuticals.