Sellas Life Sciences Group

SELLAS makes treatments to help the body fight cancer. These medicines help people with rare blood and solid tumors. The company serves patients with few other medical options.

What is SELLAS Developing?

• Galinpepimut-S (GPS): A treatment that teaches immune cells to find and kill cancer cells containing a specific protein called WT1; currently in late-stage testing for Acute Myeloid Leukemia, a fast-growing blood cancer.
• SLS009: A drug that blocks a protein cancer cells need to survive; used for patients whose cancer returned after other treatments.
• Combination Trials: Tests using GPS alongside existing drugs like pembrolizumab to see if they work better together against ovarian and other cancers.

Key Partnerships and Progress

• Licensed the main product candidate from Memorial Sloan Kettering Cancer Center to build the initial research pipeline.
• Formed a deal with 3D Medicines Inc. in December 2020 to develop and sell GPS in Greater China.
• Expanded the portfolio in March 2022 by licensing SLS009 from GenFleet Therapeutics (Shanghai), Inc. for worldwide use outside of China.
• Joined forces with the IMPACT-AML network in January 2026 to run clinical studies across multiple European medical sites.

Why These Treatments are Different

The company uses heteroclitic technology, which modifies fragments of cancer proteins to trigger a stronger and longer-lasting immune response. These treatments are off-the-shelf, meaning they do not require personalized manufacturing and can be used immediately for many different patients.

Recent Financial Performance

• Revenue was $0 in Q4 2025, which is common for companies still testing their main products.
• Operating income reached -$8.3 million in Q4 2025, a loss that worsened by 19.3% from Q4 2024.
• Net income was -$7.7 million in Q4 2025, with the loss widening by 13.7% year-over-year.
• Free cash flow was -$4.9 million in Q4 2025, showing an improvement of 31.2% from the previous year.

The SELLAS Story

SELLAS has evolved from early research to late-stage clinical testing of its lead cancer immunotherapies. By combining internal development with global partnerships, the company has built a pipeline targeting high-need cancer types.