TransCode Therapeutics, Inc. (RNAZ) announced on March 3 2026 that it has entered into an exclusive, worldwide, fully paid‑up royalty‑free license agreement with Unleash Immuno Oncolytics, Inc. The deal gives TransCode rights to develop and commercialize three oncolytic adenovirus candidates—UIO‑524, UIO‑525 and UIO‑526—targeting solid tumors, with an initial focus on muscle‑invasive bladder cancer.
Under the terms of the agreement, Unleash will receive a one‑time payment of 1,136,364 shares of TransCode’s new series of non‑voting convertible preferred stock. The preferred shares are convertible into an equal number of common shares and represent 6.8 % of TransCode’s fully diluted equity. The transaction adds a new therapeutic modality to TransCode’s pipeline and provides a substantial equity consideration for the company.
The UIO‑524 candidate is a next‑generation oncolytic adenovirus engineered to selectively replicate in malignant cells and tumor stroma, delivering a multi‑cytokine payload (CD40‑L, 4‑1BBL and IL‑21). The platform is designed to activate dendritic cells, T cells and NK cells, creating a robust systemic anti‑tumor immune response. By adding this technology, TransCode expands beyond its RNA delivery platform and positions itself to address high‑unmet‑need solid tumor indications such as muscle‑invasive bladder cancer.
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