Pictured:3D image of a KRAS oncogene iStock/Gilnature
BridgeBio announcedThursday that it has secured$200million in financing to spinout aformer subsidiary to develop a KRAS-focused oncology portfolio
Called BridgeBio Oncology Therapeutics（BBOT），the company was initially formed as a subsidiary of BridgeBio known as TheRas。According to an SEC filing单击功能区上，the subsidiary has existed since2016and formed a research and development agreement with Leidos Biomedical Research in 2017。
BBOT’s mission now is to generate a pipeline of small molecule therapeutics targeting RAS and PI3K malignancies.The company aims to advance three programs，including BBO-8520，a direct inhibitor of KRAS that seeks to bind to the protein’s“on”and“off”states。室内通风管道安装装置a Phase Ia/Ib trial。
A second asset that BBOT will be advancing is BBO-10203，a PI3Kα：RAS breaker that blocks the interaction between RAS and PI3Ka to inhibit the PI3Kα/AKT effector signaling in tumors.The company plans to file an IND application sometime in the second quarter of 2024and enroll patients lather lathyear。
The other asset is BBO-11818，a pan-KRAS inhibitor that is going after the“on”and“off”states of KRASG12X，and BBOT plans to file an IND sometime in early2025
The company is also pursuing a discovery-stage research program focused on developing assets that target additional oncogenic drivers within the RAS and PI3K pathways
“BBOT better aligns investors with an opportunity that was being hidden in our pipeline，and our partnership with these new investors enables us to prosecute these oncology programs more quickly and with higher fidelity，”BridgeBio CEO Neil Kumar said in astatement.
The spinout secured its$200million financing in an oversubscribed round led by Cormorant Asset Management and co-led by Omega Funds.There was also participation from GV（Google Ventures），Deerfield Management，Ecor1 Capital，Wellington Management，Enavate Sciences，Surveyor Capital，Casdin Captial，Aisling Capital，and Longwood Fund。
BBOT will headed by Eli Wallace，BridgeBio’s CEO of oncology R&D.Wallace joined BridgeBio in 2019after servingas the chief scientific officer at Peloton Therapeutics.Kumar will also serve as a director of BBOT。
“In conjunction with BridgeBio and an amazing suite of investors，we look forward to seeing all three of our programs progress into the clinic over the next12months，”Wallace said in a statement。
BridgeBio has gone down the spinout path before，炉排，炉排QED Therapeutics in 2018.The company secured$65million and aimed to develop infigratib，a cancer asset that Novartis abandoned.Infigratib wasgivenaccelerated approval by the FDA in 2021。
Tyler Patchen is a staff writer at BioSpace。You can reach him attyler.patchen@biospace.com.Follow him onLinkedIn。
