Phanes Therapeutics Expands Biliary Tract Cancer Drug Trial

Biotech firm initiates dose expansion phase for spevatamig combination therapy after clearing toxicity hurdle.

Apr. 8, 2026 at 5:51am

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An extreme close-up X-ray image revealing the complex internal structure of a cancer cell, with glowing lines and ghostly shapes against a dark background, conceptually representing the scientific breakthrough of a new cancer treatment.A groundbreaking cancer drug trial aims to unlock the molecular secrets of a rare and deadly form of liver cancer.San Diego Today

Phanes Therapeutics, a clinical-stage biotech company, announced the initiation of the dose expansion phase in their clinical study evaluating spevatamig in combination with chemotherapy for the treatment of biliary tract cancer (BTC). The decision follows the clearance of dose-limiting toxicity (DLT) at two dose levels.

Why it matters

Spevatamig is a first-in-class bispecific antibody targeting claudin 18.2 and CD47 that has shown promise in treating pancreatic cancer. The expansion of this trial into biliary tract cancer, a rare and aggressive form of liver cancer, represents an important step in developing new treatment options for patients with limited options.

The details

Phanes is conducting multiple clinical trials with spevatamig, including a Phase 2 study evaluating the efficacy of the drug in combination with chemotherapy in first-line pancreatic ductal adenocarcinoma (PDAC) patients. As of March 2026, more than 160 patients globally have been dosed with spevatamig collectively in monotherapy and combination therapy settings.

  • Phanes Therapeutics was granted orphan drug designation for spevatamig in the treatment of pancreatic cancer by the FDA in 2022.
  • In 2024, spevatamig was granted Fast Track designation for the treatment of patients with metastatic claudin 18.2-positive pancreatic adenocarcinoma.
  • In 2023, Phanes entered into a clinical collaboration agreement with Merck to study spevatamig in combination with Merck's anti-PD-1 therapy, pembrolizumab.

The players

Phanes Therapeutics, Inc.

A clinical-stage biotech company focused on innovative drug discovery and development in oncology.

Spevatamig

A first-in-class native IgG-like bispecific antibody (bsAb) targeting claudin 18.2 and CD47 that has been granted orphan drug and Fast Track designations by the FDA for the treatment of pancreatic cancer.

Merck

A pharmaceutical company that Phanes Therapeutics entered into a clinical collaboration agreement with in 2023 to study spevatamig in combination with Merck's anti-PD-1 therapy, pembrolizumab.

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What’s next

Phanes Therapeutics plans to present three posters on spevatamig at the upcoming American Association for Cancer Research (AACR) Annual Meeting 2026 in San Diego.

The takeaway

The expansion of Phanes Therapeutics' spevatamig clinical trial into biliary tract cancer represents an important advancement in developing new treatment options for patients with this rare and aggressive form of liver cancer, building on the drug's promising results in pancreatic cancer.