Pediatric hematologist-oncologist, Dr. Joshua Schiffman, had to make a decision that few people ever have to make. “Do I change the life of one patient at a time or do I try to help thousands, maybe hundreds of thousands?” Inspired to become an oncologist by his own childhood cancer battle, Dr. Schiffman has decades of experience helping individual patients as a clinician. His work focused on high-risk patients who have hereditary genetic predisposition for cancer. During his residency and fellowship at Stanford University, he began the school’s Pediatric Cancer Genetics Program, one of the country’s first programs for inherited cancer risk. He followed that work as the Medical Director for the University of Utah’s High Risk Pediatric Cancer Clinic, a Professor of Pediatrics in the school’s Pediatric Hematology and Oncology department, and as the Medical Director for the Family Cancer Assessment Clinic at the Huntsman Cancer Institute.
His personal and professional experiences give him intimate, first-hand understanding of both the devastation caused by cancer and the harsh residual effects of traditional treatments. Chemotherapy, long the cornerstone of cancer treatment, often comes at a devastating cost – extreme toxicity that compromises patients’ quality of life. Dr. Schiffman’s career has focused on finding ways to mitigate these negative effects. When he learned that some plants and animals have evolved to be naturally cancer resistant, he realized he could have a greater impact by contributing to the collective effort to fight cancer. Dr. Schiffman founded Peel Therapeutics (Peel) with a team of seasoned biologists and engineers, biopharmaceutical experts, an impressive Board of Directors, and well-known advisors who have strategically guided the company. Together they are working to effectively harness nature’s superabilities to fight cancer and bring products to market that safely and effectively transform the lives of thousands of patients.
Started almost a decade ago, Peel is now an established evolutionary-inspired, clinical-stage biotech company rooted in Utah. Its lead asset, PEEL-224, is showing promising results in patients in early stage clinical trials—and attracting the attention of both the life sciences community and large pharmaceutical companies. Peel is unlocking evolutionary biology, proving itself to be an innovative pioneer in cancer treatment, and validating Utah’s growing reputation as a burgeoning biotech hub.
PEEL-224: Nature-Engineered, Patient-Centered
Peel’s founding philosophy is based on the idea that evolution has spent millions of years developing natural defenses against cancer, offering compelling insights for modern medicine. The company’s lead drug, PEEL-224, has been modified from a compound found in Camptotheca acuminata, a deciduous tree known as the Chinese Happy Tree. The plant is the original source of the drug irinotecan, a powerful chemotherapy agent used as the backbone to treat colorectal and pancreatic cancers, as well as many pediatric solid tumors. Unfortunately, irinotecan is infamous for its severe and often debilitating gastrointestinal side effects. Tumors have also been shown to eventually become resistant to irinotecan. PEEL-224 is a small molecule nanoparticle engineered to be more effective than irinotecan – allowing physicians to reduce dosage levels, and thus decrease toxicity levels. PEEL-224 also avoids the chemoresistance that develops in irinotecan and other tumors.
Early clinical trial results demonstrate dramatic improvement to patient outcome and experience. Dr. Schiffman explained, “We’re trying to change the way cancer is treated—away from pushing poisons, and toward drugs that actually work better and have fewer side effects. Half of our patients on our first clinical trial had no nausea, no vomiting, and no diarrhea. That’s unheard of in traditional chemotherapy.” One patient with advanced metastatic pancreatic cancer saw remarkable results. After only 2 months on treatment with PEEL-224, her primary pancreatic tumor and metastatic lesions disappeared, and her lymph nodes returned to normal. One year later, she remains without any evidence of disease. This incredible result is a powerful early indicator of what this engineered therapy may be able to achieve. PEEL-224 truly redefines what cancer treatment can look and feel like for patients.
A De-Risked Opportunity for Investment
Peel completed PEEL-224’s Phase 1a trial, showing encouraging safety results. The next step is to use PEEL-224 in combination with other chemotherapy or novel treatments, specifically those focused on metastatic colorectal cancer (CRC). Peel has started the next trial with PEEL-224 right here in Utah at Huntsman Cancer Institute for patients early in their treatment for metastatic colorectal cancer (NCT05329103). Dr. Schiffman explained that a commissioned third-party report on the potential use of PEEL-224 to treat CRC documented that “if [PEEL-224] succeeds, it could be given to one out of every two patients with metastatic colorectal cancer around the world.” That is a massive number, dependent on the success of the numerous clinical trials required for drug approval. Dr. Schiffman maintains the same stance on these clinical trial outcomes that he has had during his entire career with individual patient outcomes – hopeful but realistic.
Peel’s innovation and impressive early results have captured the attention of large pharma. Dr. Schiffman explained,“They’re watching our data. We don’t have a partnership yet—but they’re waiting to see what this next clinical trial shows.” Peel initially raised a total of $38M in financing from mostly Utah-based angel investors, seed investors, and friends and family. Located in the Altitude Lab in downtown SLC and now buoyed by positive and promising results, this clinical biotech has raised the first $8M in their Series A round and is seeking an additional $12M before closing. Most companies at this fundraising stage are still preclinical. Peel, by contrast, is already in human trials. For investors, it represents a rare and de-risked opportunity to get involved in a clinical-stage biotech with global therapeutic potential at a relatively early valuation.
Part of Utah’s Biohive
Dr. Schiffman was initially drawn to Utah for its international reputation in human genetic research, perfectly aligning with his focus on genetics-driven cancers. Thanks in large part to the state’s cultural emphasis on ancestry and the residents’ prodigious work in genealogy “more human disease genes have been discovered in Utah than in any other place in the world.” This year, Utah was also ranked first among U.S. states for innovation capacity and outcomes based on its “higher education institutions, well-trained workforce, collaborative atmosphere, and culture of innovation driven by the culture of the state.” Peel has taken advantage of each of these metrics. The company has strategic relationships with the University of Utah, Huntsman Cancer Institute, Hogle Zoo, and has shared results of its clinical trials with prominent politicians including members of the Utah State Senate. Peel has also been able to recruit amazing talent to Utah.
Peel’s team is working together to bring PEEL-224 and other nature-based treatments to fruition. Patrícia Araújo, PhD is a biochemist and Senior Scientist at Peel. She works on testing novel targets for future development and maintaining Peel’s biobank. Araújo shared, “I have spent my career researching ways to prevent and treat cancer more effectively. I am so excited about the amazing results we have had with PEEL-224. It’s just the beginning.” She also praised Utah, “Utah is the most beautiful state I’ve ever visited—the mountains, the forests up north, and the one-of-a-kind rock formations down south. And coming from Brazil, I’ve even come to look forward to surviving winter here.” Dr. Schiffman credits Dr. Araújo and the hard work from the rest of his team for Peel’s success, “The early success of Peel has been made possible by the dedication of Peel’s employees. Everyone shares the goal of making better medicines for patients.”
Utah’s innovative culture helped lead Dr. Schiffman to establish Peel in the Beehive State. “Utah’s pioneering spirit runs deep—taking bold risks and working hard. That’s what biotech is. That’s what Peel is.” With the support of its team, investors, and collaborators across Utah, Peel is more than just a biotech company. It is a pioneering institution that is revolutionizing cancer treatment that could literally change the world.
