Tempest Therapeutics Business Summary

Tempest Therapeutics, Inc. (TPST) is a clinical-stage biotechnology company that generates revenue primarily through strategic research collaborations, licensing agreements, and equity financing, as it currently has no commercialized products. The company operates through two primary business segments: small molecule oncology, led by the Phase 3-ready PPARα antagonist amezalpat (TPST-1120) and the dual EP2/4 antagonist TPST-1495, and its newly integrated cell therapy division following the February 2026 acquisition of CAR-T assets from Factor Bioscience. Tempest differentiates itself in the competitive immuno-oncology market by utilizing a dual-pronged approach that combines direct tumor-cell killing with the activation of innate and adaptive immunity. It competes directly with oncology-focused biotechs such as Ayala Pharmaceuticals, Inovio Pharmaceuticals, Aura Biosciences, and AVEO Oncology, positioning itself as a diversified developer of both oral small molecules and next-generation, partner-funded CAR-T therapies. Originally founded by Dr. Tom Dubensky and Sam Saks, the company underwent a significant leadership transition in February 2026 following a change-of-control transaction with Factor Bioscience. The current executive team is led by President and CEO Dr. Matt Angel, a co-founder of Factor Bioscience with a Ph.D. from MIT and a background in mRNA and cell reprogramming technology. He is supported by Nicholas Maestas, Chief Financial Officer and Head of Corporate Strategy, who brings pedigree from Alector and Immune Design, and Dr. Samuel Whiting, Executive Vice President and Chief Medical Officer. The Board of Directors is chaired by former CEO Stephen Brady, with notable representation from Mike Raab (CEO of Ardelyx). Major institutional backing is provided by Factor Bioscience, which holds a 61.3% majority stake, alongside legacy investors Versant Ventures, F-Prime Capital, and Quan Capital.