USA -BridgeBio Pharma, a US-based biopharmaceutical company,  initiated the establishment of BridgeBio Oncology Therapeutics (BBOT), a firm dedicated to oncology, backed by US$ 200 million in external private investment.

The launch of BridgeBio Oncology Therapeutics marks a significant step in the company’s commitment to advancing oncology treatment. 

The newly formed entity, TheRas, Inc. d/b/a BridgeBio Oncology Therapeutics (BBOT), a former subsidiary of BridgeBio Pharma, intends to utilize the substantial funding to accelerate the development of BridgeBio Pharma’s oncology portfolio.

Cormorant Asset Management led the financing round for BridgeBio Oncology Therapeutics, with co-leadership from Omega Funds. 

The investment also drew support from affiliates of Deerfield Management, Google Ventures (GV), EcoR1 Capital, Wellington Management, Enavate Sciences, and other notable participants.

Michelle Doig, a partner at Omega Funds, expressed enthusiasm about BBOT’s pipeline of potential first-in-class assets and its team of experts focusing on RAS-driven malignancies. 

Doig highlighted the potential positive impact on cancer patients and stakeholder value.

BridgeBio Oncology Therapeutics will concentrate on advancing three primary cancer treatment programs: BBO-8520, BBO-10203, and BBO-11818.

BBO-8520 is an inhibitor targeting KRASG12C, designed to bind to both the ON and OFF states of the protein. 

The company is currently enrolling participants for the ONKORAS-101 trial, aimed at individuals with non-small cell lung cancer carrying the KRASG12C mutation.

Meanwhile, BBO-10203 functions as a PI3Kα:RAS breaker, aiming to disrupt the interaction between RAS and PI3Ka, thereby halting PI3Kα / AKT effector signaling in tumors.

BridgeBio Oncology Therapeutics plans to submit an investigational new drug application (IND) for BBO-10203 in Q2 2024, with patient recruitment slated to commence later in the year.

BBO-11818, a pan-KRAS inhibitor targeting both the ON and OFF states of KRASG12X, is expected to undergo IND submission in early 2025.

In addition to these clinical programs, the company will continue its discovery-stage research program, focusing on targeting oncogenic drivers in the RAS (rat sarcoma)and PI3K pathways.

Eli Wallace, appointed as CEO of BridgeBio Oncology Therapeutics, expressed excitement about advancing the portfolio of novel small molecules to address patients suffering from RAS pathway malignancies. Pedro Beltran will serve as the Chief Scientific Officer.

BridgeBio’s recent funding initiatives reflect a broader strategy to raise capital for the development and launch of genetic medicines. 

In January, the company secured up to US$1.25 billion in capital from Blue Owl Capital and CPP Investments, emphasizing its commitment to pioneering medical advancements.

Through BridgeBio Oncology Therapeutics, BridgeBio Pharma aims to significantly contribute to the advancement of oncology treatment, offering hope to patients battling cancer and their families.

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