Chesterbrook, PA, March 03, 2026 (GLOBE NEWSWIRE) -- Persevere Therapeutics, Inc. (“Persevere”), a Delaware-incorporated, clinical-stage oncology biotechnology company, today announced its official launch following a period of stealth operations. The company is emerging with a Phase 1b/2a-ready clinical asset and the first close of its Seed financing.

As part of its launch, Persevere has acquired the clinical-stage program and related assets for misetionamide (GP-2250) from Geistlich Pharma AG. Misetionamide is a novel, first-in-class dual inhibitor of c-MYC and NFκB with clinical activity in a Phase 1 trial.

Persevere has closed on a first tranche of a Seed round and is actively engaging prospective investors for the remaining allocation. The company is prepared to share equity round terms with qualified investors.

The Seed financing proceeds will be used to complete a Phase 1b/2a proof-of-concept clinical trial evaluating misetionamide in patients with platinum-resistant ovarian cancer (PROC), an area of significant unmet medical need.

“We named the company Persevere as an enduring reminder that we must ‘Never Give Up’ on behalf of cancer patients, who persevere every day,” said Greg Bosch, Founder and CEO. “Persevere Therapeutics’ mission is the unwavering pursuit of improved clinical outcomes for cancer patients with our novel therapeutic, misetionamide.”

Persevere benefits from the solid foundation already established by the significant effort and investment to-date in the development of misetionamide. These advancements include a broad preclinical program and the completion of a successful Phase 1 clinical trial where 56 cancer patients were treated. Persevere’s investors have a unique opportunity to leverage this prior investment as the company now advances the program into its next stage of clinical development. In addition to the multi-center Phase 1 which demonstrated excellent safety and encouraging efficacy profile of misetionamide, significant milestones have already been achieved including all CMC, toxicology and regulatory hurdles with two open INDs as well as 16 scientific publications and an extensive patent estate.

“Platinum resistant ovarian cancer remains one of the most challenging and underserved areas in gynecologic oncology, leaving patients with limited effective options and a poor prognosis,” noted Dr. Robert Coleman, MD, gynecologic oncologist with Texas Oncology and Chief Medical Officer at Vaniam Group. “Persevere’s misetionamide offers a much-needed therapeutic innovation, not only as a differentiated alternative to the growing number of antibody drug conjugates [ADCs] in development, but also as a potential option for patients whose disease has been exposed to, and/or progressed on prior ADC therapy.”

About Persevere Therapeutics

Persevere Therapeutics is a clinical-stage oncology company dedicated to advancing a novel antineoplastic therapeutic for patients with difficult-to-treat cancers. The name Persevere reflects an enduring reminder that we must ‘never give up’ on behalf of cancer patients who persevere every day.

Our mission is the singular pursuit of improved clinical outcomes for cancer patients with our novel therapeutic, misetionamide (GP-2250). Our lead clinical focus is the treatment of platinum-resistant ovarian cancer.

Misetionamide is a broadly active small molecule with a novel mechanism of action that inhibits two oncogenic transcription factors, c-MYC and NFκB. Through modulation of c-MYC, misetionamide selectively disrupts cancer cell energy metabolism, leading to tumor cell death. In parallel, inhibition of NFκB reduces cancer cell proliferation and survival signaling. 

The company is a privately held Delaware C-corporation headquartered in Chesterbrook, Pennsylvania. For more information, please visit perseveretherapeutics.com and follow Persevere on LinkedIn and X.

Investor and Media Contact:

Ben Steinmetz, Persevere Therapeutics, Chief Commercial Officer

[email protected]

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Source: Persevere Therapeutics, Inc.