Estrella Immunopharma, Inc.

Estrella Immunopharma, Inc. (Nasdaq: ESTL) is a clinical-stage biopharmaceutical company developing T-cell therapies designed to address treatment challenges in patients with cancers and autoimmune diseases. The company leverages cutting-edge cellular engineering technologies to create potentially safer and more efficacious T-cell therapies compared to traditional CAR-T approaches, with the goal of making such treatments accessible to a larger patient population.

The company's core platform is the proprietary ARTEMIS® T-Cell Receptor System, exclusively licensed from Eureka Therapeutics. This platform utilizes an Antibody-T Cell Receptor architecture designed to overcome limitations associated with conventional CAR-T therapies, including high toxicity and prohibitive manufacturing costs. Unlike standard CAR-T cells that rely on synthetic fusion proteins driving chronic hyperactivation, ARTEMIS technology mimics natural T-cell regulation by recruiting endogenous CD3 complex to initiate activation while providing co-stimulatory signals as a separate protein, potentially limiting T-cell hyperactivation and reducing inflammatory cytokine release.

Estrella's lead product candidate, EB103, is a CD19-directed ARTEMIS T-cell therapy currently in Phase I/II clinical development for relapsed or refractory B-cell non-Hodgkin's lymphomas. As of December 2025, the company completed Phase I dose escalation with nine patients, achieving a 100 percent complete response rate in the high-dose cohort with no treatment-related serious adverse events reported. The company is advancing into Phase II expansion phase at the recommended Phase II dose. Secondary programs include EB104, targeting both CD19 and CD22 to address antigen escape, and EB201 for systemic lupus erythematosus in preclinical development. Estrella is also collaborating with Imugene to explore EB103 in combination with CF33-CD19t for solid tumors using a "mark and kill" strategy.

The company was formed through a June 2022 contribution of assets from Eureka Therapeutics and completed a business combination with TradeUP Acquisition Corp. in September 2023, becoming publicly traded. Eureka Therapeutics holds more than fifty percent of voting power, making Estrella a controlled company. As a clinical-stage entity with limited operating history, the company has a history of significant net losses and requires substantial additional funding to advance its pipeline and support operations.