Supported by Oxford University Innovation, the company will leverage over two decades of work by co-founder Professor Paresh Vyas to target common cancer proteins and revolutionise treatment options for patients.

The company secured a £16.5 million Series A funding round, led by the investment management firm Syncona Limited, which will drive the development of innovative treatments targeting specific cancer markers.

Over the past 20 years, working in the MRC Molecular Haematology, Professor Vyas has compiled a unique biobank of over 10,000 samples from more than 3,000 acute myeloid leukaemia (AML) patients, including those cured through blood cell transplants. This extensive research has led to the discovery of new cancer markers that could enable highly targeted treatments.

‘Yellowstone Biosciences is our latest spinout company created at the University of Oxford. By targeting a ground-breaking new class of cancer markers, Yellowstone has the potential to significantly improve the treatment and extend the lives of patients with various forms of cancer, starting with acute myeloid leukaemia.’ said Dr Benedicte Menn, Senior Investment Manager at Oxford University Innovation.

‘We are thrilled to see Yellowstone and Syncona collaborating on this important launch, and we will closely follow the development and success of their innovative pipeline. This partnership marks a significant step forward in our mission to bring cutting-edge research from the lab to the clinic, ultimately benefiting patients worldwide.’

Susan Campbell, Senior Licensing & Ventures Manager at Oxford University Innovation, added: ‘It has been a privilege and truly inspiring to bring the diverse team at Oxford University Innovation together over several years to collaborate with a world-leading academic.

‘This partnership has harnessed decades of clinical practice and academic expertise to realise Professor Paresh Vyas’s visionary insights. Through 20 years of dedicated research, Paresh and the numerous members of his research group have significantly advanced the science of targeting cancer cells. Their ground-breaking work aims to improve the lives of cancer patients by developing treatments that effectively kill cancer cells while preserving healthy ones, thus revolutionising patient care.’

The company’s initial focus will be on AML, which is responsible for 62% of leukaemia deaths and currently lacks a standard treatment for many patients. Yellowstone’s approach uses bispecific T-cell therapies designed to specifically attack cancer cells while sparing healthy ones by targeting markers presented by HLA-Class II molecules.

Beyond AML, Yellowstone’s technology holds promise for improving treatment and extending survival for other common cancers that express HLA-Class II markers, such as ovarian, lung, colorectal, prostate, breast, kidney cancers, and melanoma. This innovative approach aims to make a significant impact on the treatment landscape for these challenging diseases.

Professor Paresh Vyas, Co-founder and Chief Scientific Officer of Yellowstone, commented: ‘Therapeutically targeting common antigens has always been a challenge, but our two decades of research have uncovered a new class of targets that could treat cancer and improve patient survival. We believe our technology can precisely kill tumour cells while preserving healthy ones across various cancers. Together with Syncona, we are initially focusing on developing highly selective TCR-based therapies for AML, where we have extensive experience and data. Moving forward, we aim to expand our pipeline to include other cancers, maximising Yellowstone’s potential.’

Professor Vyas is part of the MRC Weatherall Institute of Molecular Medicine and the MRC Molecular Haematology Unit, part of the Radcliffe Department of Medicine at the University of Oxford.