Clinical-stage BridgeBio Oncology Therapeutics, whose financial backers include Cormorant Asset Management, is going public by merging with a Cormorant-sponsored SPAC. The combined company will continue developing drugs targeting various forms of mutated KRAS proteins that drive cancers.
Acquiring Mirati Therapeutics brings Bristol Myers Squibb Krazati, one of two FDA-approved therapies addressing a KRAS cancer mutation. The deal comes as BMS looks to add revenue-generating products as patent expirations loom for several of its cancer products.
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Cancer drug developer Frontier Medicines already has a research partnership with AbbVie. Now the preclinical-stage biotech has raised $88.5 million for its own pipeline, including a drug that could offer advantages over a recently approved Amgen cancer therapy.
The company did not provide data, but said results for patients who received sotorasib at the 960mg dose were consistent with those seen in the Phase I portion of the Phase I/II study, which showed an overall response rate of 35.3%. ......
Sotorasib, a KRAS G12C inhibitor, showed an overall response rate and duration of response that analysts called approvable, but they noted the results have waned over time, and combinations may be the way forward.
An investigator in the Phase I/II trial of Amgen's AMG 510 said that while data for colorectal cancer indicated low activity as a single agent, it nevertheless represented a doubling in progression-free survival over what is seen from currently available treatments.
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Amgen presented data for the KRAS G12C inhibitor AMG 510 at the World Conference on Lung Cancer in Barcelona, showing a 54 percent response rate among patients receiving the pivotal study dose.
The company said in its earnings statement that AMG 510 had produced objective responses in patients with colorectal and appendiceal cancers. The Phase II portion of the Phase I/II study, which may be used for registration, will start enrolling in the coming days.
The company is targeting pathways such as SHP2 and KRAS G12C. RAS mutations have been an attractive target in oncology due to the central role they play in cancers.