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Coherus Oncology has secured a $55 million senior secured term loan to refinance existing debt and extend its maturity timeline. The company signed the agreement with Innovatus Life Sciences Lending Fund I and other lenders on 12 August 2026, drawing the full amount two days later. The new loan matures in August 2031, extending the previous May 2029 deadline beyond anticipated product launches. It carries a floating interest rate of 4.15% plus the greater of Prime Rate or 6.75%, lower than the prior facility's 8.0% plus three-month SOFR. The facility includes a 36-month interest-only period, potentially extendable to 48 months upon meeting revenue and market capitalisation targets. Additional tranches of $25 million and $20 million remain available under certain conditions.

Coherus and Zumutor launch Phase 1 trial of ZM008 and LOQTORZI combination therapy. June 24, 2026 Coherus and Zumutor Biologics announce clinical collaboration to evaluate ZM008 in combination with LOQTORZI(R)(toripalimab-tpzi). - First patient dosed in a Phase 1 study evaluating ZM008, an anti-LLT1 mAb, in combination with LOQTORZI, a next-generation PD-1 inhibitor. Coherus Oncology, Inc. (Nasdaq: CHRS) and Zumutor Biologics Inc. ("Zumutor"), an immuno-oncology biotech company, today announced a clinical collaboration and supply agreement to conduct a Phase 1 trial of ZM008, a novel NK checkpoint anti-LLT1 monoclonal antibody in combination with LOQTORZI (toripalimab-tpzi), a next-generation PD-1 inhibitor (Trial ID: NCT06451497). The study will enroll patients with colorectal, head and neck, non-small cell lung cancer, clear cell renal cell carcinoma and urothelial cancers, among other solid tumors. "We are excited to partner with Zumutor Biologics on the development of LOQTORZI with ZM0008 as a novel combination treatment for cancer patients in this Phase 1 study," said Theresa LaVallee, Ph.D., Chief Scientific and Development Officer at Coherus Oncology. "This collaboration is another example of our strategy to expand potential LOQTORZI indications beyond NPC and strengthen the clinical data package in the US through cost-efficient drug supply agreements, evaluating LOQTORZI with novel mechanisms in prioritized tumor types such as NSCLC, HNSCC, and others." ZM008, discovered using Zumutor's proprietary fully human monoclonal antibody library INABLR(R), has demonstrated a favorable safety profile, with no dose-limiting toxicities or anti-drug antibodies. In an ongoing monotherapy study, ZM008 has shown clinical benefit in metastatic patients previously treated with immune checkpoint inhibitors. Targeting complementary adaptive and innate immune pathways can unlock meaningful clinical benefit, particularly in hard-to-treat "cold tumors" that remain less responsive to current immunotherapies. "This Phase 1 study will evaluate ZM008 in combination with LOQTORZI and will generate key insights into response mechanisms, identify predictive biomarkers, and refine patient selection strategies to accelerate personalized therapies," said Maloy Ghosh, Ph.D., Chief Scientific Officer of Zumutor. The trial will evaluate safety, tolerability, and the recommended dose of ZM008, enrolling up to 45 patients across dose-escalation and expansion cohorts in the United States. "The initiation of combination studies of ZM008 with toripalimab, from Coherus Oncology, represents a pivotal milestone for our lead program," said Kavitha Iyer Rodrigues, CEO of Zumutor Biologics Inc. "Building on encouraging early clinical data, this advancement strengthens our conviction in ZM008's potential to deliver a differentiated and meaningful immunotherapy option for patients with difficult-to-treat cancers and underscores our commitment to accelerating its clinical development." Under the terms of the clinical trial collaboration and supply agreement, Coherus Oncology will provide LOQTORZI to Zumutor, which will be the sponsor of the Phase 1 clinical combination trial. Zumutor and Coherus each retain all commercial rights to their respective compounds, as monotherapies or combination therapies. About Zumutor Biologics Inc. Zumutor Biologics Inc. is a clinical-stage biotechnology company pioneering next-generation immunotherapies by targeting innate immune pathways, with a focus on natural killer (NK) cell checkpoints. Headquartered in Boston, with R&D operations in Bangalore, the company leverages its proprietary INABLR(R) platform-combining high-diversity human antibody libraries with yeast and phage display technologies, to rapidly advance differentiated biologics. Zumutor's lead asset, ZM008, a novel anti-LLT1 antibody, is currently in first-in-human clinical trials in the U.S., with dose expansion planned. The company is also progressing additional pipeline programs targeting NK cell activation pathways with strong oncology potential. Founded in 2015, Zumutor has raised approximately $33 million from a reputable global investor syndicate. Zumutor Contacts Kavitha Iyer Rodrigues: CEO, Zumutor Biologics Inc [email protected] About Coherus Oncology Coherus Oncology is a fully integrated commercial-stage innovative oncology company with an approved next-generation programmed death receptor-1 ("PD-1") inhibitor, LOQTORZI(R)(toripalimab-tpzi), and a pipeline that includes two mid-stage clinical candidates targeting liver, prostate, head & neck, colorectal and other cancers. The Company's strategy is to grow sales of LOQTORZI in R/M Nasopharyngeal Carcinoma and advance the development of its two pipeline candidates in combination with LOQTORZI and through strategic partnerships. Coherus' innovative oncology pipeline includes multiple antibody immunotherapy candidates focused on enhancing the innate and adaptive immune responses to enable a robust antitumor response and enhance outcomes for patients with cancer. Tagmokitug is a highly selective cytolytic anti-CCR8 antibody currently in Phase 1b/2a studies in patients with advanced solid tumors; including head and neck squamous cell carcinoma, colorectal cancer, gastric, gastro-esophageal-junction, esophageal adenocarcinoma and esophageal squamous cell carcinoma. Casdozokitug is a novel IL-27 antagonistic antibody currently being evaluated in a Phase 2 study in patients with first-line hepatocellular carcinoma. LOQTORZI(R) is a registered trademark of Coherus Oncology, Inc.