BURLINGTON, Mass., Jan. 22, 2026 -- PAQ Therapeutics, a clinical-stage oncology company developing novel targeted protein degradation therapies for KRAS-driven cancers, today announced the closing of a Series B extension, bringing the company's total Series B financing to $77 million, and the dosing of the first patient in a Phase 1 clinical trial evaluating PT0511, the company's pan-KRAS degrader.

The Series B extension builds on PAQ's previously announced Series B financing, with participation from existing as well as new investors, and further strengthens the company's balance sheet to advance multiple clinical programs. Proceeds from the financing will support the ongoing Phase 1 development of PT0253, PAQ's KRAS G12D degrader, as well as the clinical advancement of PT0511.

"Completing this Series B extension and dosing the first patient in our PT0511 Phase 1 study represent important milestones for PAQ," said Nan Ji, PhD, Chief Executive Officer of PAQ Therapeutics. "Together, these achievements highlight our continued execution against a multi-program clinical strategy and our focus on addressing significant unmet need across KRAS-driven cancers."

PT0511 is a pan-KRAS degrader designed to target multiple oncogenic KRAS variants. The Phase 1 study is a first-in-human, open-label, dose-escalation trial evaluating the safety, tolerability, pharmacokinetics, and preliminary anti-tumor activity of PT0511 in patients with advanced solid tumors harboring KRAS alterations.

"The initiation of clinical dosing with PT0511 expands our clinical portfolio beyond single-mutation KRAS targeting," said Andrew Krivoshik, MD, PhD, Chief Medical Officer of PAQ Therapeutics. "A pan-KRAS degradation approach has the potential to address key limitations for patients observed with existing KRAS- or pan-RAS inhibitor therapies."

PAQ continues to advance a differentiated KRAS pipeline by leveraging targeted protein degradation to achieve deep and selective suppression of oncogenic signaling, while maintaining favorable safety and combinability profiles.

About PAQ Therapeutics
PAQ Therapeutics is a clinical-stage biotechnology company developing best- and first-in-class KRAS degraders for lethal cancers lacking effective treatment options.