MiNK Therapeutics, Inc. (NASDAQ: INKT) has begun a Phase 1, investigator‑sponsored study of its lead allogeneic invariant natural killer T (iNKT) cell therapy, agenT‑797, in patients undergoing allogeneic hematopoietic stem cell transplantation (allo‑HSCT). The trial, led by Dr. Hongtao Liu of the University of Wisconsin School of Medicine and Public Health, will evaluate the safety, tolerability, and preliminary efficacy of agenT‑797 in reducing graft‑versus‑host disease (GvHD), relapse, and other post‑transplant complications in high‑risk leukemia and other blood‑cancer patients.
The study is supported by two non‑dilutive grants: an NIH STTR award from the National Institute of Allergy and Infectious Diseases and a Mary Gooze Clinical Trial Award from the University of Wisconsin Carbone Cancer Center. These awards provide critical funding that offsets the company’s cash burn and preserves runway while the trial progresses.
GvHD affects roughly half of allo‑HSCT recipients and is a leading cause of morbidity and mortality after transplant. Current prophylaxis relies on immunosuppressive drugs, lymphodepletion, and HLA matching, all of which carry risks and limitations. AgenT‑797 is an off‑the‑shelf, HLA‑independent therapy that does not require lymphodepletion, offering a potentially safer and more accessible alternative that could maintain graft‑versus‑leukemia activity while suppressing allo‑immune responses.
MiNK’s financial position as of September 30, 2025 shows $14.3 million in cash, a net loss of $2.89 million for the quarter, and a year‑to‑date net loss of $9.89 million. The grant funding for the GvHD trial helps mitigate immediate financing pressure and extends the company’s runway as it continues to develop its iNKT platform across multiple indications.
CEO Jennifer Buell emphasized the strategic importance of the trial, stating that “agenT‑797 continues to deliver what checkpoint inhibitors alone cannot” and that the study “restores immune control when it really matters.” She highlighted the trial as a key milestone that could accelerate regulatory discussions and attract strategic partnership interest, thereby enhancing MiNK’s long‑term valuation prospects.
Successful safety and early efficacy signals from the Phase 1 study would validate the iNKT platform in a high‑impact area, potentially positioning MiNK as a leader in GvHD prevention and expanding its therapeutic portfolio beyond solid tumors and ARDS. The trial’s non‑dilutive funding and partnership‑driven execution model underscore MiNK’s ability to advance its pipeline while managing capital efficiently.
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