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Today: May 28, 2024
May 3, 2024
1 min read

BridgeBio secures $200M from VCs for oncology spinout’s KRAS breakthrough

TLDR:

  • BridgeBio Pharma has secured $200 million in venture capital to fund its cancer-focused spinout, BridgeBio Oncology Therapeutics (BBOT).
  • BBOT is focused on developing a pipeline of KRAS inhibitors with the goal of achieving significant clinical milestones in the next 18-24 months.

BridgeBio Pharma has raised $200 million in venture capital funding to support its cancer-focused spinout, BridgeBio Oncology Therapeutics (BBOT). BBOT is primarily focused on developing a pipeline of KRAS inhibitors, including a KRAS G12C inhibitor called BBO-8520. The funding will enable BBOT to push its pipeline through early-phase clinical trials and achieve significant clinical inflection points over the next 18-24 months.

BBOT recently initiated a phase 1 trial for its KRAS G12C inhibitor in non-small cell lung cancer, testing it both as a single agent and in combination with Keytruda. The company believes that its approach of targeting KRAS in both its “on” and “off” states may lead to better efficacy compared to existing KRAS inhibitors from companies like Amgen and Bristol Myers Squibb.

In addition to the KRAS G12C inhibitor, BBOT is also working on developing two other assets, BBO-10203 and BBO-11818, which target different aspects of the KRAS pathway. These assets are designed to have advantages over existing treatments and potentially be effective in a broader range of patients with KRAS mutations.

The funding round for BBOT was led by Cormorant Asset Management and co-led by Omega Funds, with participation from other prominent investors. The leadership team at BBOT includes Eli Wallace as CEO and Pedro Beltran as chief scientific officer.

Overall, the funding from venture capital investors will allow BBOT to advance its pipeline of novel KRAS inhibitors and work towards achieving key clinical milestones over the next couple of years.

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