Liminatus Pharma (LIMN)

The company’s lead disclosed programme is a Guanylyl Cyclase C, or GCC, vaccine being evaluated in Phase II clinical trials. GCC is a marker expressed in several gastrointestinal cancers, and Liminatus is studying whether an immune-based approach can help target malignancies such as colorectal, pancreatic, gastric, and oesophageal cancers. These are large oncology indications where improved treatment options are still needed, particularly for patients whose disease is advanced or resistant to standard care.

Liminatus is also developing a next-generation CD47 immune checkpoint inhibitor. CD47 is often described as a “don’t eat me” signal used by cancer cells to avoid clearance by the immune system. Blocking this pathway is a recognised strategy in cancer immunotherapy, but some anti-CD47 antibodies can bind to red blood cells and platelets, raising safety concerns such as anaemia, thrombocytopenia, and haemolysis. Liminatus says its CD47 monoclonal antibody is designed to bind preferentially to immune cells rather than red blood cells or platelets, with the aim of improving tolerability. This candidate is in late preclinical development, meaning it has not yet reached human efficacy testing.