Aptevo Therapeutics Inc. received a $1,499,951.00 grant from the Andy Hill Cancer Research Endowment (CARE) Fund. The funding is specifically for Investigational New Drug (IND)-enabling studies for APVO451, a trispecific antibody candidate targeting solid tumors. The grant is provided on a reimbursement basis and requires the company to provide matching non-state contributions. The project period is expected to last until June 2028. Payments are contingent on the achievement of milestones, reporting requirements, and adherence to the agreement's terms. Aptevo retains ownership of intellectual property generated, with certain obligations regarding acknowledgment and commercialization. The company believes this grant validates the design of APVO451 and supports its nectin-4-targeted therapies. APVO451 is a strategic pipeline priority, with development candidate selection anticipated by year-end 2026 and IND-enabling studies starting in Q1 2027. The trispecific immunotherapy is designed to target nectin-4, activate CD40 on antigen-presenting cells, and engage CD3 on T-cells to concentrate immune activation within the tumor microenvironment.