BridgeBio Pharma, Inc. announced a $200m venture financing on 2 May that will enable portfolio oncology firm TheRas to spin out as BridgeBio Oncology Therapeutics (BBOT), a private and independent entity in which the corporate parent will own a less-than-50% equity stake. The move enables BBOT to focus on its KRAS- and PI3K-targeting cancer candidates – one in Phase I and the others in late preclinical development – while BridgeBio saves cash and focuses on the expected approval of Bayer AG-partnered acoramidis in November and other proprietary pipeline assets.
BridgeBio Spins Out Cancer Arm With $200m Fundraise
BridgeBio will narrow its focus to rare diseases and the November action date for acoramidis, while subsidiary TheRas will become BridgeBio Oncology Therapeutics, focused on KRAS-targeted drugs.
