The oversubscribed financing was led by Cormorant Asset Management and co-led by Omega Funds with participation from affiliates of
BBOT will be advancing three initial programs
BBO-8520, a direct inhibitor of KRASG12C that binds to both the ON and OFF states of the protein; BBOT is currently enrolling patients in the ONKORAS-101 trial for patients with KRASG12C mutant non-small cell lung cancer
BBO-10203, a PI3K: RAS breaker that blocks the specific interaction between RAS and PI3Ka to inhibit PI3K / AKT effector signaling in tumors while bypassing glucose metabolic signaling to avoid hyperglycemia; BBOT expects to file an Investigational New Drug application (IND) for BBO-10203 in Q2 2024 and, subject to clearance of the IND, will begin enrolling patients later this year
BBO-11818, a pan-KRAS inhibitor that targets both the ON and OFF states of KRASG12X for which BBOT expects to file an IND in early 2025
In addition to these assets, BBOT will continue to undertake a robust discovery-stage research program focused on targeting additional oncogenic drivers within the RAS and PI3K pathways.
BridgeBio Oncology Therapeutics will be led by
The Board of Directors of BBOT will be chaired by
'I'm thrilled to partner with BridgeBio and this stellar investor syndicate to advance BBOT's unique portfolio of precision oncology assets targeting RAS-driven cancers,' said lead investor
'We are very excited about BBOT's pipeline of potential first-in-class assets and to join a team of world class experts in RAS-driven malignancies, who we believe are positioned to have significant positive impact on cancer patients and build stakeholder value,' added
About
BridgeBio Oncology Therapeutics is a clinical-stage biopharmaceutical company advancing a next generation pipeline of novel small molecule therapeutics targeting RAS and PI3K malignancies. Initially formed as a subsidiary of BridgeBio, BridgeBio Oncology Therapeutics completed a
About
This press release contains forward-looking statements. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), which are usually identified by the use of words such as 'anticipates,' 'believes,' 'continues,' 'estimates,' 'expects,' 'hopes,' 'intends,' 'may,' 'plans,' 'projects,' 'remains,' 'seeks,' 'should,' 'will,' and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements, including statements relating to the clinical, therapeutic and market potential of BBOT's programs and product candidates, including the status and progress of enrollments in clinical trials, planned IND filings, the commencement of planned clinical trials, the progress of discovery-stage research activities, and the timing thereof, and the cash runway, financial performance, strategy, business plans and goals of BBOT, reflect our current views about BBOT's plans, intentions, expectations and strategies, which are based on the information currently available to us and on assumptions we have made. Although we believe that the plans, intentions, expectations and strategies as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved.
Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to, initial and ongoing data from BBOT's preclinical studies and clinical trials not being indicative of final data, the potential size of the target patient populations BBOT's product candidates are designed to treat not being as large as anticipated, the design and success of ongoing and planned clinical trials, future regulatory filings, approvals and/or sales, the impacts of current macroeconomic and geopolitical events, including changing conditions from hostilities in
Contact:
Idan Elmelech
Email: Idan.Elmelech@bridgebiooncology.com
Tel: (650) 405-7021
Email: contact@bridgebio.com
Tel: (650) 789-8220
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