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BridgeBio Spins Out Cancer Arm With $200m Fundraise

 
• By Joseph Haas

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.

Spinout
BridgeBio will narrow focus and reduce cash-burn with cancer spinout • Source: Shutterstock

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.

Key Takeaways

  • BridgeBio spins out KRAS-focused cancer firm TheRas into BridgeBio Oncology Therapeutics, while raising a $200m funding round for the new company.

  • BBOT will be...

BBOT’s immediate priority is continuing enrollment in the Phase I ONKORAS-101 study of BBO-5520, a KRAS G12C inhibitor, in KRAS G12C-mutated non-small cell lung cancer (NSCLC). The company thinks the...

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